The Essentially Contested Concept of Globalization

It is an understatement to say a growth industry has emerged around the concept ‘globalization’. Observers of all political leanings have been focusing attention on the process of globalization and its implications for corporations, states, and labour groups (e.g., Waters, 1995; Rodrik, 1995; Peterson, 1996; Veseth, 1997; Sassen, 1999). At issue are the intended and unintended effects of the globalization of product and financial markets into transnational systems. Some authors view globalization as threatening state sovereignty while others fear that globalization is eroding the gains made by labour in the twentieth century. Several authors see globalization as part of a long-term process whereby the meaningfulness of national borders is vanishing. Still others treat globalization as a new phenomenon. When defining globalization, economic, political, social, and cultural factors are combined and emphasized differently. Most authors provide a multidimensional definition of globalization, but few authors go beyond economic measures, descriptive case studies, and/or anecdotes. Those who do operationalize the concept often use economic measures such as trade density or capital flows as a proxy for what most authors would agree is a more nuanced and multifaceted concept. Moreover, many authors employ a notion of globalization that differs little from the concepts of transnationalization and interdependence. Needless to say, there is no intersubjective definition of globalization. Beyond the definitional morass, there appears to be divergent views in the public discourse regarding what globalization represents and whether the process of globalization has positive or negative effects on the state, business, and labour. If globalization is a distinct and unique socio-economic force, then what are the implications for national governments, labour, and transnational corporations? Is globalization eroding state sovereignty? Are workers disadvantaged vis-a-vis globalizing capital? Can more equitable and/or effective global institutions be constructed in this age of globalization?