Globalisation

Globalisation refers to interconnectedness. Globalisation as a concept fundamentally deals with flow of goods, ideas, capital, commodities, etc. World is shrinking as people are moving to different parts of the world for better livelihoods. Causes of Globalisation are advanced technology, Availability of improved communications and wide usage of global media. Globalization has resulted in drastic political, economic and cultural transformation of the societies. As a political consequence Globalisation has resulted in reducing the role of the state, from “welfare state” to the “minimalist state”, which performs only the core functions like maintenance of law and order and looking after the security of its citizens. The primacy of the state continues to be the unchallenged and state continues to discharge its essential functions and consciously withdraws from certain domains from which it wishes to. Economic Globalization means the dismantling of trade barriers between nations and the integration of the nations’ economies through financial flow, trade in goods and services, and corporate investments between nations. Globalisation generates greater economic growth and well being for larger sections of the population. Globalisation has led to increased momentum towards inter-dependence and integration between governments, businesses and ordinary people in different parts of the world. Globalisation leads to the rise of a uniform culture or what is called as cultural homogenization. In India, economic reforms were introduced in 1991, which resulted in the reduction of public expenditure in social sector. Anti globalization activists see globalization as a new form of imperialism whereas rightist are more concerned with the political, economic and cultural effects of globalization. Multinational companies are being accused of social injustice, unfair working conditions, low labor wages and low living standards, etc. Liberalisation refers to economic policies, which led to reducing the role of the state and public expenditure in social sector. Privatisation is the process of transferring ownership of business from the public sector to the private sector. Anti globalization is a grassroots movement to counter the trend of globalization and its harmful effects, and to reform capitalism. Non-governmental organizations (NGO) are Non-profit organizations that work to promote human good while operating separately from any national government.

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