Globalization of Democracy Essay Example | Topics and Well Written Essays - 4000 words

Globalization of Democracy - Essay ExampleThe conceptual trend of contrasting processes resulting in greater interconnections of socio-cultural, economic and political proceedings at the global scale can be termed as globalization. It has been identified by many as the misbalanced process which has take to strengthening of the interdependencies of the major economies of the world with growing indifference towards economies that depart from these major economies. It has been constantly observed that the diverse effects of globalization with multi-faceted impacts from various processes on different countries ar interlinked through the chains of globalization.Commonly, it has come to be referred to as economic globalization, due to the amalgamation of several national economies into the international economy in course of instruction of trade, capital flows, foreign direct investments, migrations and technological spread and advancements1.Chase-Dunn has presented a model of the proc esses and structures of the modern world-system and has proposed a project to transform the system into a democratic and collectively rational global commonwealth. The article states that popular transnational social movements are challenging the ideological hegemony of corporate capitalism2. The global womens movement, indigenous movements, the labor movement, and environmentalist movements are attempting to form strong alliances which are capable of challenging the emerging transnational capitalist class domination (Chase-Dunn, 2003). Chase-Dunn get bys that new democratic socialist states in the semi-periphery result be critical sources of support and allies for the anti-systemic movements. Globalisation supporters claim that it increases economic prosperity as well as opportunity, especially among ontogeny nations, leading to a greater efficient allotment of resources and enhancement of civil liberties. Economic theories of comparative advantage suggest that free trade lead s to a more efficient allocation of resources, with all countries involved in the trade benefiting3. In general, this leads to lower prices, more employment, higher output and a higher standard of living for those in developing countries (Sachs, Jeffery, 2005). Proponents of laissez-faire capitalism say that higher degrees of political and economic freedom in the form of democracy and capitalism in the developed world are ends in themselves and as well produce higher levels of material wealth4. They see globalisation as the beneficial spread of liberty and capitalism (Wolf, Martin, 2004).Vices of GlobalizationCritics of globalisation argue that poorer countries are sometime at disadvantage since the main export of poorer countries is generally agricultural goods and it become difficult for these countries to compete with financially stronger countries that subsidize their own farmers5 (Hurst, Charles, 1993).It has also been argued that globalisation has led to deterioration of prot ection for the weaker nations by stronger industrialized powers, resulting in exploitation of the people in those nations to become cheap labours6. With the world