This thesis emphasizes the demystifying globalization in a way what globalization had had impact on the nation-state depends on the way nation-state sees the globalization itself. Holton argues that nation-state can not be regarded as being in decline or overrun by globalization and this is in large measure because global capital is mostly not of an anarchic variety and still requires state functions to be performed;  thus, we must acknowledge that some nation-states are home base for MNCs.
This new epoch is characterized by the declining relevance and authority of nation-states, brought about largely through the economic logic of a global market. Ideational globalisation thesis Globalisation is looked at here in ideational terms - in a discursive context.
In the case of the Netherlands, the relationship between unions and big corporations has been historically well despite the high taxation and welfare expenditures Green-Pedersen, Van Kersbergen, Hemerijck,pp.
When Garten asked the CEO about his opinions and believes on globalization, the latter replied: As a result, this has social and political implications as govts can spend less on public goods - foreign direct investment runs the stage - competition state.
The hyperglobalists are depicted as a school of thought that believes the neoliberal capitalist free market ideology —a continuous increase of global trade in capital and labour— has created a global age in which nation-states have become increasingly irrelevant.
Thus the system remains a open international economy with exchange between national economies and decisions made at a national level. The skeptical view cautions against making such sweeping claims about the totalizing nature of globalization.
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Neo-gramscian view links globalisation to the rise of a trans-national ruling class - separate from an association with a particular state.
Another example is that Britain remains undecided towards the single currency of EU. They see globalisation as a process.
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Obama acknowledges decline of US dominance. The way we understand the world and our ideas about the world is what shapes our behaviour. Ideational globalisation thesis Globalisation is looked at here in ideational terms - in a discursive context.
But is that outcome coherent with the contemporary processes.
Hay, while approving the sceptics that there is no enough evidence that the world is globalized, suggests that globalization may play a powerful role in ideational terms, and might weaken the nation-state.
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In the EU, supranational institutions and national governments share political authority, and where market forces play an important role in the setting of standards and regulations.
Here is an excellent summary of the globalization literature that was written by Held and McGrew for the Oxford Companion to Politics. It is power that determines the relationship between authority and market thus markets can not play a dominant role in the way in which a political economy functions unless allowed to do so by whoever wields power and possesses authority.
In it there are three waves of globalization: While a universally accepted definition of economic globalization is lacking; conceptualizations of globalization imply a process far greater than increased internationalization or the conservative definition as ascribed by the OECD above Scholte,p.
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Their role may be reconfigured in facing other important actors to be considered, yet it remains to have such significant roles in governing the contemporary world economy. The sceptical thesis Argues the opposite to the Hyperglobalist theory - globalisation is not the take-all end-all process.
International Studies Perspectives, 5 3p.
Indeed, a plethora of international economic assessments, productivity indexes and competitiveness reports exist that suggestively legitimize this statement. While this globalization narrative might sound convincing; these material processes — and its accompanying discourse— need to be put into perspective.
The Transformationalist View of Globalization Posted on September 24, by Karl Thompson Transformationalists and postmodernists agree that the impact of globalization has been exaggerated by globalists but argue that it is.
Thus, while the hyperglobalist thesis quickly resonated among media and politicians; it also became highly criticized among scholars (Hirst & Thompson,p.
98). This resulted in a sceptical and transformationalist thesis –of which the latter is ascribed to scholarly work of Held et. The skeptical thesis interrogates hyperglobalist claims through comparative studies of levels of internationalization of trade, foreign direct investment (FDI) flows and internationalization of finance across capitalist history.
The Hyperglobalist View: At one extreme is the view that open markets and free trade and investment across global markets allow more and more people to share in the prosperity of a growing world economy.
Economic and political interdependence, meanwhile, creates shared interests that help prevent conflict and foster support for common. The Hyperglobalist thesis (associated with figures such as Kenichi Ohmae) advocates that the world is now becoming borderless due to the heightened flow of goods, capital, labour and information technology (IT) that flow effortlessly across borders.; Developments in areas such as IT have shrunk the world - making it easier to transfer.
(59): a sceptical approach, a hyperglobalist approach and the transformationalist thesis. Those who follow the sceptical line argue that internationalisation and global .Hyperglobalist thesis