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Lecture 10

Lecture 10 - Mar. 28, 2013.docx

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University of Toronto Scarborough
Ivanka Knezevic

Globalization - Process whereby social relationships are established transcending national borders, primarily by subnational and supranational actors (Beck: deterritionalization). - Knezevic: characteristic of the past 40 years (cf. Beaudet). - Internationalization: nation-states as central actors. - Sovereignty of developed nations is still significant, but presented as fluid for ideological reasons. - Sovereignty of developing nations is eroded by the “race to the bottom.” - What is a banana republic? - Globalization is NOT an inevitable process. It is developed by identifiable social actors: 1. Transnational corporations (TNCs) 2. Supranational institutions (UN, IMF, WB, EU, NAFTA, GATT…) and 3. Powerful states, in particular the United States and its allies, recently China. Beaudet’s definition of globalization 1. Stretching of social, political, and economic activities worldwide. 2. Intensification of the interconnectedness of trade, investment, finance, migration, and culture. 3. Speeding up of global interactions and processes with respect to ideas, goods, information, capital, and people. 4. Deepening impact of events felt throughout the world. Beaudet on Americanization - By the 1970s, the globalized world was composed of three parts: 1. The capitalist First World 2. The socialist Second World 3. The Third World, divided into the US and SU spheres of influence, later unified into non-aligned movement. - During the 1980s, many Third World countries experienced a crippling debt crisis. - In 1989, the Soviet Union collapsed and the US was further enabled to spread neo-liberal policies. - Huntington. 1992. Clash of Civilizations - Fukuyama. 1992. End of History and the Last Man 1 Two perspectives on economic globalization - The Western-centric (modernization, neo-liberal) perspective: some countries are poor because Western capitalist institutions and values have not penetrated them deeply enough. - The anti-imperialist (dependency or world-systems) perspective: some countries are poor because they have been drawn into capitalist system. It is in the interests of rich countries to keep them poor. - Measuring well-being of populations: 1. GDP per capita (total market value of economic activity in a society; gross domestic product – capital amortization = net domestic product); - Problems: disregards inequality, a poor measure of well-being (v. Stieglitz) 2. Human development index (work, income, education, health, democracy, equality, freedom). Explanations of globalization: moder
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