CONTEMPORARY REVIEWER (PRELIM)

What is Globalization?
- The interconnectedness of human beings, brought about by technological
changes, modern transportation, and communication technology.
Globalization for Anthropologist Arjun Appadurai
- Different kinds of globalization occur on multiple and intersecting dimensions
of integration that he calls “Scapes”.
- The main argument of Appadurai is that “There are MULTIPLE
GLOBALIZATIONS”.
Globalization as scapes:
1. Ethnoscape – Refers to the global movement of people.
2. Financescape – Denotes the global circulation of money.
3. Ideoscape – The realm where political ideas move around.
Misconceptions about Globalization:
1. Globalization as Internationalization – Growth of transaction and
interdependence between countries.
a) Internationalization – Includes activities with reference to national
borders and national governments.
b) Globalization – Not limited with the activities that are subject to
government’s consent.

2. Globalization as Liberalization – Open or borderless world economy

3. Globalization as Universalization and Westernization – Using other
countries culture or adopting other countries culture more than our own.

Concepts of Globalization
1. Globalization as a process
- Step-by-step
- It is now a new idea.
- a product of the constant revolutionizing of the relations of production

2. Globalization as a condition
- It has the power to move people all around the world.
- It has the power to interconnect each country in this globe.
 - refers to globality as social condition characterized by trans-planetary
connectivity and supra-territoriality.
a) Trans-planetary relations – social links from different places of our
planet.
b) Supra-territorial relations – social connections that transcends
territorial geography.

3. Globalization as an ideology
- Exists from people’s consciousness.
- Ideas
- Beliefs
6 Core claims:
1. Globalization is about the liberalization and global integration of
markets
2. Globalization is inevitable and irreversible.
3. Nobody is in charge of globalization.
4. Globalization benefits everyone in the long run.
5. Globalization furthers the spread of democracy.
6. Globalization requires a global war on terrorism.
Market Integration
Brief history
WW1:
 Great depression
 Adopting the Gold Standard
 Floating exchange rate
o Forex market (Foreign exchange market)
 Fiat currency
o Banks are the one that creates the money, but they wait for
the budget plan and can’t make money without it.

 Bretton wood system

o Economic peace
o 2 financial institutions:
 World Bank – Provides financial and technical
assistance to developing countries to reduce poverty
and support development.
 IMF (International monetary funds) – The fund’s
purpose is to promote financial stability and economic
growth among other objectives.