November 14, 2013
Reading(sHay, C. (2011) Globalization’s impact on the state.
OUTLINE OF THE READING(S)
There is a lot of doubt when it comes to the definition of globalization,
but there is no doubt that globalization has a significant impact on the
accountability, autonomy, capacity and sovereignty of the nation state.
Globalization led to inequalities around the world and has reduced the power
of nation states to manage their own economies. Globalization is seen to
cause inequalities due to the polarization of income, as many laborers are
being exploited and working under the minimum wage whilst others are
working in high paying jobs. Large corporations are known to exploit
resources and commodities such as cheap labor to increase their profits.
Globalization led to a significant rise of multinational corporations which
many believe undermined the ability of states to manage their own
economies. As corporations grow in capital, they also grow in power. Their
global reach increases, making them more powerful in our legal system to
the extent of which they might be thought to diminish the autonomy and
sovereignty of the nation state. Multinational corporations integrate national
economies into global networks, therefore nation states no longer have total
control over their economies. People began to believe that such actions
caused globalization to establish powerful tendencies towards global political
convergence as we