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In the name of free markets and with the promise of an improved standard of living, local authorities give up some of their political and social powers to international organizations. [10] Thus, globalization causes the greater empowerment of these international organizations and the diminishing influence of local state institutions. [15] [16]
In the post-World War II period, states sacrificed globalization while embracing democracy at home and national autonomy. [7] The trilemma suggests that the backlash against globalization in the last few decades is rooted in a desire to reclaim democracy and national autonomy, even if it undermines economic integration. [ 7 ]
Stiglitz finds no evidence to support this belief, and considers the 'Washington Consensus' policy of free markets to be a blend of ideology and bad science. Joseph Stiglitz was awarded the 2001 Nobel Memorial Prize in Economic Sciences (shared with George Akerlof and Michael Spence) for demonstrating how information affects markets. Without ...
The book deals mainly with the effects of globalization. It describes a growing social divide as a result of "delimitation" of the economy and a loss of political control by the state over the economic development, which is increasingly controlled by global corporations. The authors warn of a so-called "20-to-80-society". [3]
The Globalization of World Politics: An Introduction to International Relations is an introduction to international relations (IR) and offers comprehensive coverage of key theories and global issues. Edited by John Baylis, Patricia Owens , and Steve Smith. [ 1 ]
Here, the authors argued that state-centric views of international relations were inadequate frameworks to utilize in political science or international relations studies due to the increased globalization. [4] Today, the practices of global politics are defined by values: norms of human rights, ideas of human development, and beliefs such as ...
False Dawn: The Delusions of Global Capitalism is a 1998 book by political philosopher John Gray that argues that free-market globalization is unstable and is in the process of collapsing. A 2002 edition includes a foreword that relates the themes of False Dawn to the 11 September 2001 attacks and the new US military posture that led to the ...
Political globalization is the growth of the worldwide political system, both in size and complexity. That system includes national governments , their governmental and intergovernmental organizations as well as government-independent elements of global civil society such as international non-governmental organizations and social movement ...
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