The Political Economy of Globalization

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Globalization exists when neither distance nor international boundaries obstruct economic transactions. Furthermore, globalization increases political relations among a wide variety of people and nations. Globalization, according to L. Mosley “disregards political boundaries” (Mosely, 2007, p. 107); it establishes a sense of openness and acceptance throughout corresponding countries. In “The Political Economy of Globalization”, Layna Mosely asks the question: “Does economic globalization alter the capabilities of national governments. Globalization does benefit countries financially and increase “overall national welfare”, but how does globalization influence governments? (Mosely, 2007, p. 107) According to N.Klien, Globalization and economic prosperity work correspondingly with national reform, he discusses this correlation with globalization and its involvement in South Africa. With a disgruntled political structure, a state regardless of resources and potential can still endure collapse. Political unrest in South Africa has resulted in turmoil throughout the state; political instability and restrictions implemented on various associations (WTO, GATT) has made it difficult to succeed. I believe that globalization, rather then harming the nation state is actually facilitating it; the existence of domestic associations can reject or accept any notion of globalization. Globalization has surely made an impact to both developing and developed nations, only causing them to adapt to these circumstances.

In “The political economy of Globalization”, Layna Mosely exemplifies the various change and influences made by globalization. Globalization has lifted political boundaries; this is a result of “deliberate decisions by poli...

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...balization increases political associations among a wide mixture of corporations and nations. Mosely and Klien discuss the repercussions of globalization and its influence on the nation state; they figuratively agree on the pressure it inflicts. Mosely quarrels on how globalization could limit and further accelerate government action. Klien argues on the restrictions and potential that globalization could promote. I believe that globalization, further facilitates government interventions; the existence of domestic structures can discard or allow any notion of globalization. Globalization has surely made an impact to both developing and developed nations, only causing them to adapt.

Bibliography

Mosley, L. (2007). The Political Economy of Globalization. 106-112

Klien, N. (2007). Democracy born in chains: South Africa constricted freedom. 233-261

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