GlobalizationGlobalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term globalization first appeared in the early 20th century (supplanting an earlier French term mondialization), developed its current meaning some time in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the post-Cold War world.
NeoliberalismNeoliberalism, also neo-liberalism, is a term used to signify the late-20th century political reappearance of 19th-century ideas associated with free-market capitalism after it fell into decline following the Second World War. A prominent factor in the rise of conservative and right-libertarian organizations, political parties, and think tanks, and predominantly advocated by them, it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, monetarism, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society.
Economic globalizationEconomic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization. Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital.
Proto-globalizationProto-globalization or early modern globalization is a period of the history of globalization roughly spanning the years between 1600 and 1800, following the period of archaic globalization. First introduced by historians A. G. Hopkins and Christopher Bayly, the term describes the phase of increasing trade links and cultural exchange that characterized the period immediately preceding the advent of so-called "modern globalization" in the 19th century.
Anti-globalization movementThe anti-globalization movement, or counter-globalization movement, is a social movement critical of economic globalization. The movement is also commonly referred to as the global justice movement, alter-globalization movement, anti-globalist movement, anti-corporate globalization movement, or movement against neoliberal globalization. There are many definitions of anti-globalization. Participants base their criticisms on a number of related ideas.
Classical liberalismClassical liberalism is a political tradition and a branch of liberalism that advocates free market and laissez-faire economics; and civil liberties under the rule of law, with special emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech. Classical liberalism, contrary to liberal branches like social liberalism, looks more negatively on social policies, taxation and the state involvement in the lives of individuals, and it advocates deregulation.
Neoclassical liberalismNeoclassical liberalism, also referred to as Arizona School liberalism and bleeding-heart libertarianism, is a libertarian political philosophy that focuses on the compatibility of support for civil liberties and free markets on the one hand and a concern for social justice and the well-being of the worst-off on the other. Adherents of neoclassical liberalism broadly hold that an agenda focused upon individual liberty will be of most benefit to the economically weak and socially disadvantaged.
Competition (economics)In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, the lower prices for the products typically are, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).
Market economyA market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.
Criticisms of globalizationCriticism of globalization is skepticism of the claimed benefits of globalization. Many of these views are held by the anti-globalization movement. Globalization has created much global and internal unrest in many countries. While the dynamics of capitalism is changing and each country is unique in its political makeup, globalization is a set-in-stone "program" that is difficult to implement without political unrest. Globalization can be partly responsible for the current global economic crisis.
