Economic, Social and Cultural Effects of Globalization

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Economic, Social and Cultural Effects of Globalization

The word globalization has been probably the most used in academic, business and government circles in the 1990’s and so far the new century. During this period hundreds of conferences, forums, conferences, workshops, etc. on the subject and many articles and books to invade a library were published were held. Such word – concept came to occupy the place, if only partially, otherwise than in the 1980’s attracted the attention of scholars, especially in the social sciences.

What do we mean by globalization?

First of all it must be recognized that although the word ‘global’ has over 400 years, the common use of words such as ‘globalization’, ‘globalize’, ‘globalizing’ did not begin to be used until about the 1960s. The Economist (April, 4.59, quoted by Waters, 1995) reported that ‘the “global fee” of Italy for imported cars had increased’, and in 1961 Webster was the first major dictionary offered definitions of globalism and globalization.

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It is also essential that we present there is no universally accepted definition of what is globalization. Hardly anyone would question that we live in an age of globalization. However, clearly define what this means and entails can be even more difficult, considering that this is a phenomenon that is developing and that in itself is complex. Just as with all the core concepts of the social sciences its precise meaning remains deeply discussed. ‘’ To Held & McGrew (2000), globalization is variously conceived as :

  1. The action at a distance (where the actions of a social agent in a town can have significant consequences for ” others who are distant “)
  2. The compression of space – time (referring to the wa