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Definition of Globalization
What Is Globalization?
Globalization is the spread of products, technology, information, and jobs across national borders
and cultures. In economic terms, it describes an interdependence of nations around the globe
fostered through free trade.

Defining Globalization from Contemporary Authors

Thomas Friedman
- Globalization is the interweaving of markets, technology, information systems and
telecommunications systems in a way that is shrinking the world from a size medium to a
size small, and enabling each of us to reach around the world farther, faster, deeper, and
cheaper than ever before
Kenichi Ohmae

- Globalization means the onset of the borderless world. All of this has happened because of
the opening up of the world economy and increasing trade between nations, which in turn
has been driven by rapid developments in communication technologies.

Malcolm Waters

- Globalization is a social process in which the constraints of geography-on social and cultural
arrangements recede and in which people become increasingly aware that they are
receding.

Roland Robertson

- Globalization refers both to the compression of the world and the intensification of
consciousness of the world as a whole.

Understanding Globalization

- Globalization is a social, cultural, political, and legal phenomenon. Socially, it leads to

greater interaction among various populations. Culturally, globalization represents the
exchange of ideas, values, and artistic expression among cultures.

United Nations (UN)
World Trade Organization (WTO)
 - Globalization has created new jobs and economic growth through the cross-border
flow of goods, capital, and labor

History of Globalization
Globalization is not a new concept. Traders traveled vast distances in ancient times to buy
commodities that were rare and expensive for sale in their homelands. The Industrial
Revolution brought advances in transportation and communication in the 19th century
that eased trade across borders.

The think tank, Peterson Institute for International Economics (PIIE), states
globalization stalled after World War I, and nations moved toward protectionism as they
launched import taxes to more closely guard their industries in the aftermath of the
conflict.

Globalization has sped up to an unprecedented pace, with public policy changes and
communications technology innovations cited as the two main driving factors.
One of the critical steps in the path to globalization came with the North American Free Trade
Agreement (NAFTA), signed in 1993.

One of NAFTA's many effects was to give American auto manufacturers the incentive to relocate a
portion of their manufacturing to Mexico where they could save on the costs of labor. NAFTA was
replaced in 2020 by the United States-Mexico-Canada Agreement (USMC).

Advantages and Disadvantages of Globalization

Advantages
- Proponents of globalization believe it allows developing countries to catch up to
industrialized nations through increased manufacturing, diversification, economic
expansion, and improvements in standards of living
- Globalization has advanced social justice on an international scale as well,
and advocates report that it has focused attention on human rights worldwide that
might have otherwise been ignored on a large scale.
Disadvantages
- One clear result of globalization is that an economic downturn in one country can
create a domino effect through its trade partners. For example, the 2008 financial
crisis had a severe impact on Portugal, Ireland, Greece, and Spain. All these
countries were members of the European Union, which had to step in to bail out
debt-laden nations, which were thereafter known by the acronym PIGS.
- For better and worse, globalization has also increased homogenization.
Starbucks, Nike, and Gap dominate commercial space in many nations. The sheer
size and reach of the U.S. have made the cultural exchange among nations largely a
one-sided affair.
Core concepts/ claims of globalization
Six Core Claims of Globalization by Manfred Steger
- 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.
- 5. Globalization furthers the spread of democracy in the world.
- 6. Globalization requires war on terror.
Globalization theories
Theory of Liberalism
- Liberalism sees the process of globalization as market-led extension of
modernization. At the most elementary level, it is a result of ‘natural’ human desires
for economic welfare and political liberty.
Theory of Political Realism
- Advocates of this theory are interested in questions of state power, the pursuit of
national interest, and conflict between states. According to them states are
inherently acquisitive and self-serving, and heading for inevitable competition of
power.
Theory of Marxism
- Marxism is principally concerned with modes of production, social exploitation
through unjust distribution, and social emancipation through the transcendence of
capitalism. Marx himself anticipated the growth of globality that ‘capital by its
nature drives beyond every spatial barrier to conquer the whole earth for its
market’.
Theory of Constructivism
- Constructivists concentrate on the ways that social actors ‘construct’ their world:
both within their own minds and through inter-subjective communication with
others.
Theory of Postmodernism
- Some other ideational perspectives of globalization highlight the significance of
structural power in the construction of identities, norms and knowledge. They all
are grouped under the label of ‘postmodernism’
Theory of Feminism
- Biological sex is held to mold the overall social order and shape significantly the
course of history, presently globality. Their main concern lies behind the status of
women, particularly their structural subordination to men.
Theory of Transformationalism
- This theory has been expounded by David Held and his colleagues. Accordingly, the
term ‘globalization’ reflects increased interconnectedness in political, economic and
cultural matters across the world creating a “shared social space”.
Theory of Eclecticism
- Capitalists attempt to amass ever-greater resources in excess of their survival
needs: accumulation of surplus. The capitalist economy is thoroughly monetized.
Money facilitates accumulation.

Issues in a Globalizing World

A Drivers of globalization
The media and almost every book on globalization and international business speak about
different drivers of globalization and they can basically be separated into five different
groups:

Technological drivers
Technology shaped and set the foundation for modern globalization. Innovations in the
transportation technology revolutionized the industry.
Political drivers
Liberalized trading rules and deregulated markets lead to lowered tariffs and allowed
foreign direct investments in almost all over the world. The institution of GATT (General
Agreement on Tariffs and Trade) 1947 and the WTO (World Trade Organization) 1995.
Market drivers
As domestic markets become more and more saturated, the opportunities for growth are
limited and global expanding is a way most organizations choose to overcome this
situation.
Cost drivers
Sourcing efficiency and costs vary from country to country and global firms can take
advantage of this fact. Other cost drivers to globalization are the opportunity to build global
scale economies and the high product development costs nowadays. (Ferrier, 2004)
Competitive drivers
With the global market, global inter-firm competition increases and organizations are
forced to “play” international. Strong interdependences among countries and high two-way
trades and FDI actions also support this driver.

Key Issues in a Globalizing World

Climate Change
- The global temperatures are rising, and are estimated to increase from 2.6 degrees
Celsius to 4.8 degrees Celsius by 2100. This would cause more severe weather,
crises with food and resources and the spread of diseases.
Pollution
- Pollution is one of the most difficult global issues to combat, as the umbrella term
refers to ocean litter, pesticides and fertilizers, air, light and noise pollution.
Lack of Education
- More than 72 million children throughout the globe that are of the age to be in
primary education are not enrolled in school.
Government Corruption
 - Corruption is a major cause of poverty considering how it affects the poor the most,
eroding political and economic development, democracy and more.

North South Divide and the Nation State

The North-South Divide is also known as Rich-Poor Divide, is an imaginary line separating
from economically developed (MEDC) and less economically developed (LEDC)
countries.
The Brandt Line splits the world into relatively richer and poorer nations: the North and
the South. It is proposed by Willy Brandt during the 1980s.
- Richer countries are almost all located in the Northern Hemisphere (except
Australia and New Zealand)
- Poorer countries are mostly located in tropical regions and in the Southern
Hemisphere

North
- In the North lay the More Economically Developed Countries (MEDCs) in the
world. Some countries which lay in the North part of the divide are Canada, United
States, Greenland and Russia. The countries are considered MEDC because of the
stability that their economy has and the change that is happening within it.

South
- These countries are known developing, meaning the GDP, HDI and general standard
of living within these countries are considered inferior to that of countries in the
North. It is also known as “Poor side”. There are many reasons why countries in the
South considered as LEDCs such as unstable government and poor economy,
citizens who have poor standard of living, low Gross Domestic Product (GDP) and
low Human Development Index (HDI). One factor that stands out is colonization
why south is at disadvantage.
North-South Divide in 21st Century
- Brandt (1980) discusses on his paper entitled “North-South: A Programme for
Survival”, that wealth and development is concentrated at the northern part of the
world including Australia and New Zealand.

Nation-state
 - a territorially bounded sovereign polity—i.e., a state—that is ruled in the name of a
community of citizens who identify themselves as a nation. The legitimacy of a
nation-state’s rule over a territory and over the population inhabiting it stems from
the right of a core national group within the state (which may include all or only
some of its citizens) to self-determination
As a political model, the nation-state fuses two principles: the principle of state
sovereignty, first articulated in the Peace of Westphalia (1648), which recognizes the right
of states to govern their territories without external interference; and the principle of
national sovereignty, which recognizes the right of national communities to govern
themselves.
Global Interstate System
GLOBAL INTERSTATE SYSTEM
- It is the fundamental basis of the competitive commodity economy at global system
level. A system of international relations. (International Relations (IR) is defined
as the study of interconnectedness of politics, economics and law on a global level.)

Regional Alliances
1. AFRICAN UNION
 Founded on May 26, 2001 in Addis Ababa, Ethiopia
 Launched on July 9, 2002 in Durban, South Africa
 Composed of 55 member states located in Africa
2. ARAB LEAGUE
 Founded on March 22, 1945 in Cairo, Egypt
 Composed of 22 member states located in
Africa and Western Asia

3. CARIBBEAN COMMUNITY (CariCom)

 Founded on Aug 1, 1973 in Chaguaramas,
Trinidad and Tobago
 Headquarter Georgetown, Guyana
 Composed of 15 member states and 5 associates

4. COUNCIL OF EUROPE

 Founded on May 5, 1949 in London

 Composed of 47 member states located in Europe
*No country has ever joined the EU without first
belonging to the Council of Europe

5. UNION OF SOUTH AMERICAN NATIONS

 Founded on May 23, 2008 in Brasilia, Brazil
 Composed of 4 member states located in South America
*Brazil was its former member after a leadership crisis
Association Of Southeast Asian Nations (ASEAN)
The Association of Southeast Asian Nations, or ASEAN, was established on August 8,
1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration, also known as
Bangkok Declaration by the Founding Fathers of ASEAN, namely Indonesia, Malaysia,
Philippines, Singapore and Thailand. Brunei Darussalam then joined on 7 January
1984, Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on
30 April 1999, making up what is today the ten Member States of ASEAN, with one
observer- Papua New Guinea. Every August 8 members celebrate ASEAN Day.

The ASEAN Emblem

1. The ASEAN Emblem shall be the official emblem of ASEAN.
2. The ASEAN Emblem represents a stable, peaceful, united and dynamic ASEAN. The
colours of the Emblem — blue, red, white and yellow — represent the main colours
of the state crests of all the ASEAN Member States.
3. The blue represents peace and stability. Red depicts courage and dynamism, white
shows purity and yellow symbolises prosperity.
4. The stalks of padi in the centre of the Emblem represent the dream of ASEAN’s
Founding Fathers for an ASEAN comprising all the countries in Southeast Asia,
bound together in friendship and solidarity
5. The circle represents the unity of ASEAN.
6. The ASEAN Emblem is the reserved copyright of ASEAN.

Contemporary global governance

- Global governance brings together diverse actors to coordinate collective action at
the level of the planet. The goal of global governance, roughly defined, is to provide
global public goods, particularly peace and security, justice and mediation systems
for conflict, functioning markets and unified standards for trade and industry.

- The leading institution in charge of global governance today is the United Nations. It
was founded in 1945, in the wake of the Second World War, as a way to prevent
future conflicts on that scale.
 Intergovernmental organization
- The term intergovernmental organization (IGO) refers to an entity created by
treaty, involving two or more nations, to work in good faith, on issues of common
interest. In the absence of a treaty an IGO does not exist in the legal sense.

- IGOs that are formed by treaties are more advantageous than a mere grouping of
nations because they are subject to international law and have the ability to enter
into enforceable agreements among themselves or with states.

- The main purposes of IGOs were to create a mechanism for the world’s inhabitants
to work more successfully together in the areas of peace and security, and also to
deal with economic and social questions.

World Bank, IMF and WTO

International Monetary Fund

- It is an organization of 189 countries, working to foster global monetary

cooperation, secure financial stability, facilitate international trade, promote high
employment and sustainable economic growth, and reduce poverty around the
world. Its primary purpose is to ensure the stability of the international monetary
system, the system of exchange rates and international payments that enables
countries to transact with each other.

IMF Three Main Tools

SURVEILLANCE TECHNICAL ASSISTANCE LENDING

AND TRAINING

IMF monitors member To help countries IMF provides loan at a

country policies as well as
national, regional, and
global economic and
financial developments
through surveillance
• Bilateral (by
countries)
• Multilateral (global
and regional)
strengthen and IMF Three concessional interest rate
Main Tools modernize to correct balance of
their capacity to design and payments problems that
implement effective the country is facing.
policies IMF provides
technical assistance and
training.
 World Bank
World Bank was founded in 1944 together with IMF, the International Bank for
Reconstruction and Development, later called the World Bank, has expanded to a closely
associated group of five development institutions. Primarily, its helped rebuild countries
devastated by World War II through loans. 

FIVE INSTITUTIONS
 The International Bank for Reconstruction and Development- lends to
governments of middle-income and creditworthy low-income countries.
 The International Development Association - helps the world’s poorest countries
to reduce poverty by providing and grants for programs that boost economic
growth, reduce inequalities, and improve people’s living conditions.
 The International Finance Corporation - helps developing countries achieve
sustainable growth by financing investment, mobilizing capital in international
financial markets, and providing advisory services to businesses focused exclusively
on the private sector
 The Multilateral Investment Guarantee Agency - promote foreign direct
investment into developing countries to support economic growth, reduce poverty,
and improve people’s lives by offering political risk insurance (guarantees) to
investors and lenders.
 The International Centre for Settlement of Investment Disputes - provides
international facilities for conciliation and arbitration of investment disputes.

World Trade Organization

The World Trade Organization (WTO) officially commenced on 1 January 1995 under
the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General
Agreement on Tariffs and Trade (GATT). It is the largest international economic
organization in the world and the only global international organization dealing with the
rules of trade between nations. 
MODULE 2

THE GLOBAL ECONOMY

Market Integration
A. World Systems Theory by Immanuel Wallerstein
Immanuel Wallerstein, in his World Systems Theory, explains that there is a
world economic system in which some countries benefit while others are exploited. In
1970s, he develops this theoretical framework to understand the historical changes
involved in the rise of the modern world.

The world systems theory is established on a three-level hierarchy consisting of the

following:
 Core: Describes dominant capitalist countries which exploit the peripheral
countries for labor and raw materials.
 Semi-peripheral: Countries that share characteristics of both core and periphery
countries.
 Peripheral: Peripheral countries are dependent on core countries for capital and
have underdeveloped industry.

Core Semi-peripheral Peripheral

Dominant Less develop than core Dependent
Capitalist countries Less industrialized
high levels of More developed than Less urbanized
industrialization peripheral countries Agrarian
high levels of urbanization Low literacy
technology production Lack of technology

Relationship of Core, Semi Periphery and Periphery

Core countries own most of the world’s capital and technology and have great control
over world trade and economic agreements. They are also the cultural centers which
attract artists and intellectuals. Peripheral countries generally provide labor and materials
to core countries.
Semi peripheral countries exploit peripheral countries, just as core countries exploit both
semi peripheral and peripheral countries.
Core countries extract raw materials with little cost.
The wealthy in peripheral countries benefit from the labor of poor workers and from
their own economic relations with core country capitalists. Periphery countries will
sometimes seek the business of a transnational corporation by lowering standards for their
own citizens.
The World Systems Theory is similar to the dependency theory, except that World
systems theory recognizes that minimal benefits are enjoyed by countries that are low in
status in the system, while wealthy countries exploit the poorer countries primarily for
their own gain.
Bretton Woods System
In July 1944, a new international monetary system known as the Bretton Woods system
was created during the United Nations Monetary and Financial Conference at Mount
Washington Hotel in Bretton Woods, New Hampshire.

Purpose:
 Assist devastated countries after World War II, for postwar reconstruction
 To avoid the rigidity of previous international monetary systems
 To create a monetary system to ensure exchange rate stability, prevent competitive
devaluations, and promote international economic growth

Primary designer of Bretton Woods System:

 John Maynard Keynes- adviser to the British Treasury
 Harry Dexter White- the chief international economist at the Treasury Department

Two Important Organizations:

 International Monetary Fund (IMF) – monitors exchange rates and identify nations
needed global monetary support
 World Bank (former International Bank for Reconstruction and Development) –
provide assistance to nations that were devastated during World War II.

Bretton Woods System Collapse in 1973

The Bretton Woods System collapsed in 1973 after former Pres. Richard M. Nixon
suspended the dollar’s convertibility to gold. In 1971, US experienced a run on gold
reserves which results to inadequate gold supply to cover the dollars circulating in the
world. To maintain gold reserve, US devalued dollar relative to gold.

Economic Organizations and Corporations (MNC & TNC)

 Economic organization is the cooperation and coordination between and among parties
on the factors of production such as land, labor and capital. The organization performs a
very importance function in modern function in large-scale basis.

Types of Economies
Characteristics Command Economy Free-market Mixed Economy
Economy
Role of Government Mandates and Little to no directive Impose only
decides on all regulations to
economic activities business activities
Freedom of Choice No freedom of Freedom of choice Limited freedom of
of Production and choice lies within choice due to
Consumption producers and government
consumers controls
Price Determination Government sets Price mechanism Price mechanism
price system (according system regulated by
to supply and the government
demand)

Types of Economic Organization

Type Description
Sole proprietorship This is controlled/ owned by a single
person, who performs all the functions of
an entrepreneur
Partnership This business is carried by two or more
people. Sometimes one-person business
may grow to partnership.

International Economic Organization

1. General Agreement on Tariffs and Trade (GATT)

The GATT was established in 1948 to regulate world trade, which later replaced by World
Trade Organization. GATT was created to boost economic recovery after the World War II
by reducing or eliminating trade tariffs, quotas and subsidies among member countries.

2. World Trade Organization (WTO)

The WTO was established in 1994 replacing GATT on free trade agreements between
member states. WTO is an international organization that regulates and facilitates
international trade, ensures global trade flows and assists members to trade negotiations.
3. Organization for Economic Cooperation and Development (OECD)
The OECD was founded in 1961, to stimulate economic progress and world trade. Today,
OECD focuses also on establishing evidence-based international standards and finding
solutions to a range of social, economic and environmental challenges.

4. Group of Seven (G7)

The G7 is composed of the world’s largest advance economies which include the United
States, the United Kingdom, Germany, Canada, Japan, France and Italy. The group was
formed to exchange ideas on possible solutions to a global economic crisis. Through time,
G7 summits were held yearly to talk about its members’ mutual interests. Formerly the
group was composed of 8 member states, and was called G8.

5. Group of Twenty (G20)

The G20 was formed in 1999, with 19 member states and the European Union. The
countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia,
Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United
Kingdom, and the United States. . G20 was established when G7 declared a creation of an
international forum with the commitment to work together to establish an informal
mechanism for dialogue among systemically important countries, within the framework of
the Bretton Woods institutional system.

Transnational and Multinational Corporations

These corporations are based on one country but operate or have outlets in many
countries. Taking on a global scale with international perspective are in need for a
corporation to ensure its growth and profit.
Top Multinational Performers List (Forbes, 2020)
Top Multinational Performers list ranks companies by the amount of revenue generated outside a firm's
domestic market

1. Antofagasta (UK)
2. Global Logistic Properties (Singapore)
3. Philip Morris International (US)
4. ASML Holdings (Netherlands)
 5. Novo Nordisk (Denmark)
6. Pandora (Denmark)

World’s Most Valuable Brands (Forbes, 2022)

1. Apple (Technology)
2. Amazon (Technology)
3. Google (Technology)
4. Microsoft (Technology)
5. Walmart (Retail corporation)
Transnational Capitalism
- Transnational capitalism refers to the sum of all the relations between economic
agents whether they are state or private or of other mixed forms, any part of which
crosses state borders. It is the global social stratum that controls supranational
instruments of the global economy.

Transnational Capitalist Class

- Owners/controllers of TNC and MNC and their local affiliates
- Globalizing bureaucrats and politicians
- Globalizing professionals
- Consumerist elites
Transnational capitalist class (TCC) has emerged as a segment of the world
bourgeoisie that represents transnational capital. They are the owners of the worldwide
leading means of production. The spread of TNCs all over the world, the increase in foreign
investment, the increase of mergers and acquisition across national borders, the global
financial system and stability are some reasons why these TCC were able to establish their
power in the global arena.
Forbes richest people in the world for 2022

1) Elon Musk-$219 billion, Tesla, Space X, United States

2) Jeff Bezos-$171 billion, Amazon, United States
3) Bernard Arnault & family-$158 billion, France
4) Bill Gates-$129 billion, Microsoft, United States
5) Warren Buffett-$118 billion, Berkshire Hathaway, United States

GLOBAL TRADE AND FOREIGN INVESTMENT

 A. Global Trade
With the rise of dynasties and modern nation-state, trade between countries happened,
and it furthers until every country in the world participates in trading, thus global trade.
Global trade is the import and export of goods and services across international
boundaries.

Components:
 Import – goods and services produced in another country, then received by
importing country
 Export – goods and services produced within the country, then sold to buyers or
importing countries

If Imports > Exports, the country is experiencing trade deficit

Why Import?
 Cannot produce the imported products domestically
 Cannot produce the imported products cheaply and efficiently
 Provide greater choice for consumers
Largest Importing Countries in the World (2020)
1. US ($2,361B)
2. China ($2,14B)
3. Germany ($1,135B)
4. Japan ($644.7B)
5. UK ($615.9B)
Why Export?
 Create or expand markets
 Increase sales and profit
 Gain new knowledge and experience
Largest Exporting Countries in the World (2020)
1. China ($2,490B)
2. US ($1,553B)
3. Germany ($1,434B)
4. Japan ($688.9B)
5. South Korea ($577.4B)
6. Foreign Direct Investment
 A foreign direct investment (FDI) is an investment made by a person or firm and
company in one country to another business/ firm located in another country. Unlike
foreign investment which is similar to investments through stock, FDI has significant
control over the business.
Types of FDI
Type Description
Horizontal FDI It refers to the investor establishing the
same type of business operation in a
foreign country as it operates in its home
country.
Example: A clothing brand in US invests
in a clothing brand in other country
Vertical FDI It occurs when a company decides to
acquire or build an operation that either
fulfils the role of a supplier (backward
vertical FDI) or the role of a distributor
(forward vertical FDI)
Example: A car manufacturer acquires a
tire manufacturer
Conglomerate FDI It happens when a company investment
in a foreign business that is unrelated to
its existing business in its home country
Example: A car manufacturer invest in
fast food chain

GLOBALIZATION AND RELIGION

A. Five Major Religions in the World

Religion
An organized system of beliefs, ceremonies, and rules used to worship a god or a group
of gods.

Ritual
A religious or solemn ceremony consisting of a series of actions performed according to a
prescribed order.

Buddhism
Buddhism is a religion that was founded by
Siddhartha Gautama (“the Buddha”) more than
2,500 years ago in India. Buddhism’s Eightfold Paths
We can overcome our “Ego”, feel greater harmony with the world around us and eliminate
the pain we experience through the Noble Eightfold Path. In this path, the Wheel (symbol of
Dharma) is represented with eight rays, depicting the following eight principles:

1. Right mindfulness 5. Right speech

2. Right view 6. Right action
3. Right intention 7. Right effort
4. Right concentration 8. Right livelihood

Beliefs, Customs and Practices

• The Buddha preached his first sermon to five companions who had accompanied
him on his wanderings. That first sermon became a landmark in the history of the
world’s religions.
• In it, he laid out the 4 main ideas that he had come to understand in his
enlightenment.
• He called those ideas 4 noble truths.

4 Noble Truths Meaning

First Noble Truth (Dukkha)
Second Noble Truth (Samudaya)
Third Noble Truth (Nirhodha)
Fourth Noble Truth (Magga)
Life is filled with suffering and sorrow.
The cause of all suffering is people’s selfish
desire for the temporary pleasures of this
world.
The way to end all suffering is to end all
desires.
The way to overcome such desires and
attain enlightenment is to follow the
Eightfold Path, which is called the Middle
Way between desires and self-denial.

Types of Buddhism
• Hinayana/ Theravada Buddhism: Prevalent in Thailand, Sri Lanka, Cambodia,
Laos and Myanmar
• Mahayana Buddhism: Prevalent in China, Japan, Taiwan, Korea, Singapore and
Vietnam
• Tibetan Buddhism: Prevalent in Tibet, Nepal, Mongolia, Bhutan, and parts of Russia
and northern India
Dharma
Buddha’s teachings are known as “dharma.” He taught that wisdom, kindness, patience,
generosity and compassion were important virtues.

Buddhist Holy Books

• Tipitaka: These texts, known as the “three baskets
• Sutras: sacred teachings embraced mainly by Mahayana Buddhists.
• The Book of the Dead: This Tibetan text describes the stages of death in detail.
 Christianity
• Christianity is the largest religion in the world with about 2 billion followers. It is based on
the life and teachings of Jesus, whom Christians call Christ, or savior.
• Christians believe in Trinitarian God. One God in three personas: God the father, God the
son, God the holy spirit.
•
- The Christian Bible is a collection of 66 books written by various authors. It’s
divided into two parts: The Old Testament (39) and the New Testament (27
- The Old Testament, which is also recognized by followers of Judaism
- The New Testament was written after Jesus’s death
Beliefs, Customs and Practices

• Sacrament of Baptism and Sacrament of Communion are practiced by Christian

churches.
• The most important Christian holidays are Christmas (which celebrates the birth of
Jesus) and Easter (which commemorates the resurrection of Jesus).

Hinduism

• Hinduism is the world’s oldest religion, according to many scholars, with roots and
customs dating back more than 4,000 years. Today, with about 900 million followers,
Hinduism is the third-largest religion behind Christianity and Islam.

- Most forms of Hinduism are henotheistic, which means they worship a single deity,
known as “Brahman,” but still recognize other gods and goddesses
Hinduism Holy Books
• The primary sacred texts, known as the Vedas, were composed around 1500 B.C.
This collection of verses and hymns was written in Sanskrit and contains
revelations received by ancient saints and sages.
The Vedas are made up of:
• The Rig Veda-knowledge of the hymns
• The Samaveda-knowledge of the melodies
• Yajurveda-knowledge of the sacrificial formulas
• Atharvaveda-knowledge of the magic formulas
 Beliefs Customs and Practices
- Moksha-a state of perfect understanding of all things.

- Reincarnation (rebirth)
- Cow as sacred animal
- Karma The concept of karma or "law of karma"

Some of the most prominent deities include:

1. Brahma: the god responsible for the creation of the world and all living things.
2. Vishnu: the god that preserves and protects the universe.
3. Shiva: the god that destroys the universe in order to recreate it
4. Devi: the goddess that fights to restore dharma
5.Krishna: the god of compassion, tenderness and love
6.Lakshmi: the goddess of wealth and purity
7. Saraswati: the goddess of learning

Hindu Places of Worship

Hindu worship, which is known as “puja,”
Judaism

• Judaism is the religion of the Jewish people.

• Jewish people worship in holy places known as synagogues, and their spiritual
leaders are called rabbis. The six-pointed Star of David is the symbol of Judaism

- Monotheistic religion developed among the ancient Hebrews.

- Torah-The Jewish sacred text is called the Tanakh or the “Hebrew Bible.” It
includes the same books as the Old Testament in the Christian Bible

- The Torah—the first five books of the Tanakh—outlines laws for Jews to follow.
It’s sometimes also referred to as the Pentateuch

- Talmud, a collection of teachings and commentaries on Jewish law, was created

 Founder of Judaism
- God first revealed himself to a Hebrew man named Abraham, who became known
as the founder of Judaism
Islam

• Islam is a religion based on the teachings of Muhammad revered by his

followers as the prophet.
• Islam is the second largest religion in the world after Christianity, with about
1.8 billion Muslims worldwide.
• The youngest of the major world religions.
Hijra
In 622, Muhammad traveled from Mecca to Medina with his supporters. This journey
became known as the Hijra (also spelled Hegira or Hijrah), and marks the beginning of
the Islamic calendar.
Abu Bakr
• After Muhammad’s passing, Islam began to spread rapidly.  A series of leaders,
known as caliphs, became successors to Muhammad. This system of leadership,
which was run by a Muslim ruler, became known as a caliphate.
• Caliph Umar, another father-in-law of Muhammad.

Sunnis and Shiites

• When Muhammad died, there was debate over who should replace him as leader.
This led to a schism in Islam, and two major sects emerged: the Sunnis and the
Shiites.
• Sunnis make up nearly 90 percent of Muslims worldwide. They accept that the first
four caliphs were the true successors to Muhammad.
- Shiite Muslims believe that only the caliph Ali and his descendants are the real
successors to Muhammad.