Globalization

The over-usage of the term ‘globalization’ has had the effect of diluting its resonance to such a degree that it tends to be a ‘mean anything, mean nothing’ term.

The International Monetary Fund defines globalization as “the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, free international capital flows, and more rapid and widespread diffusion of technology”.

The International Forum on Globalization defines it as “the present worldwide drive toward a globalized economic system dominated by supranational corporate trade and banking institutions that are not accountable to democratic processes or national governments.”

While these are incredibly divergent perspectives on the same phenomenon, there is one aspect of globalization that most can agree on. It arose as a result of incredibly cheap and readily available fossil fuels. International trade, finance and even culture have been made possible by cheap energy. The erosion of small business, the proliferation of corporations, the outsourcing of jobs to low wage countries, the power of financial flows and the massive risk of capital flight, international debt and many other symptoms of globalization, have developed primarily as a result of global over-reliance on cheap energy.

Worldwide flows of information has arguably led to greater diversity and cultural acceptance, increased awareness, education and understanding about our globe and those that inhabit it. Lets use the benefits of globalization to develop responses to the negative impacts. Lets Relocalize.

http://globalization.about.com/

http://www.imf.org/external/np/exr/ib/2000/041200.htm

http://en.wikipedia.org/wiki/Globalization

http://www.ifg.org/

http://www.globalization.com/