Globalization

Myth, Miracle, Mirage

By: Rolf Hackmann

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Paperback | 15 March 2005

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Paperback
260 Pages

Dimensions(cm)
25.3 x 17.93 x 1.91

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Despite its daily appearance in the media, official pronouncements, and publications of all sorts, globalization is a poorly defined concept. Globalization is usually defined in economic and financial terms such as foreign investments, trade, income flows, industrial development, employment, and the production of value added. But cultural, political, demographic, and other forces that receive less attention, because they are beset with difficulties of precise definition and measurement, also drive globalization.
Because it is nearly impossible to weigh all the various components of the globalization process at once, this study limits its focus to three major questions. First, what have the different national industries contributed to the globalization process, and how has this affected the rankings of national economies as both active and passive participants in it? Second, considering the trillions of dollars spent on foreign direct investments alone as a main driver of the economic integration of the world, how significant have their contributions been to the production of the world's output of products and services, commonly measured in terms of gross domestic product? Finally, the third question addresses the political implication for globalization's future stemming from America's recently developed neo-conservative doctrine of the new world order or the New American Century. Is the open declaration of U.S. superior economic and military strength indisputable legitimation for America's political supremacy over all nations of the world?

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