GC: n
S: UN – http://www.un.org/esa/coordination/globalization.htm (last access: 28 February 2013); Harvard – https://scholar.harvard.edu/files/john-ruggie/files/the_united_nations_and_globalization_patterns_and_limits_of_institutional_adaptation_0.pdf (last access: 6 October 2024).
N:1. 1961, noun of action from “globalize” (q.v.).
2. The act or process of globalizing : the state of being globalized; especially : the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets .
- First Known Use of GLOBALIZATION: 1951.
3. globalization (Economics). Also known as: complex interdependence.
- globalization, integration of the world’s economies, politics, and cultures. German-born American economist Theodore Levitt has been credited with having coined the term globalization in a 1983 article titled “The Globalization of Markets.” The phenomenon is widely considered to have begun in the 19th century following the advent of the Industrial Revolution, but some scholars date it more specifically to about 1870, when exports became a much more significant share of some countries’ gross domestic product (GDP). Its continued escalation is largely attributable to the development of new technologies—particularly in the fields of communication and transportation—and to the adoption of liberal trade policies by countries around the world.
- Social scientists have identified the central aspects of globalization as interconnection, intensification, time-space distanciation (conditions that allow time and space to be organized in a manner that connects presence and absence), supraterritoriality, time-space compression, action at a distance, and accelerating interdependence. Modern analysts also conceive of globalization as a long-term process of deterritorialization—that is, of social activities (economic, political, and cultural) occurring without regard for geographic location. Thus, globalization can be defined as the stretching of economic, political, and social relationships in space and time. A manufacturer assembling a product for a distant market, a country submitting to international law, and a language adopting a foreign loanword are all examples of globalization.
Of course history is filled with such occurrences: Chinese artisans once wove silk bound for the Roman Empire (see Silk Road); kingdoms in western Europe honoured dictates of the Roman Catholic Church; and English adopted many Norman French words in the centuries after the Battle of Hastings . These interactions and others laid the groundwork for globalization and are now recognized by historians and economists as important predecessors of the modern phenomenon. Analysts have labeled the 15th to 18th century as a period of “proto-globalization,” when European explorers established maritime trade routes across the Atlantic and Pacific oceans and encountered new lands. Integration prior to this time has been characterized as “archaic globalization.”
S: 1. Etymonline – https://www.etymonline.com/search?q=globalization (last access: 6 October 2024). 2. MW – http://www.merriam-webster.com/dictionary/globalization (last access: 3 September 2014). 3. EncBrit – http://global.britannica.com/topic/globalization (last access: 25 July 2015).
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