Globalization and Its Economic Social Political and Cultural Impact Essay

4363 WordsSep 15, 201418 Pages
------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Globalization and its Economic Social Political and Cultural impact ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Submitted by: Fathima Mehlika ------------------------------------------------- Tata Institute of Social Sciences ------------------------------------------------- Academic Year: 2013-15 Introduction: Globalization is a complex and multifaceted phenomenon. It is the process of international integration as a product of exchange of world views, products, ideas and other aspects of culture in which worldwide exchange of national and cultural resources occurs in the process. Many factors contributed for the growth of globalization major being advancement in transportation and communication. The current wave of globalization is nothing but the result of Schumpeterian evolution in technology along with interaction of many actors at different levels of the economy. Globalization means different for different people. For some it creates positive political, economic and technological progress. For few globalization is hegemonic and antagonist to local and national economies. Globalization has changed situations in such a manner that power of state is determined by power of firm. If the goal of globalization was more liberal exchange of goods, services, labor, thoughts etc
Open Document