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Kean Birch (14)

"Globalization’s impact on the state" ch8 Summary

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York University
Social Science
SOSC 1340
Kean Birch

November 14, 2013 READING SUMMARY Name: Baraq 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
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