Definition of Globalization

Different Viewpoints About Definition Of Economic Globalization

Definition of globalization is a vast as well as a debatable topic. Contemporary writers have viewed this word from their own unique perspective. At the same time various factors including but not limited to culture, society values, benefits and side effects have been instrumental in shaping the various forms of definitions of this word.
Globalization generally refers to the process of integrating regional economies and of course cultures by means of communication, trade and transportation. Commonly the word is often replaced by the term economic globalization. But this term is rather shallow as it only describes the fusion of world economies due to increasing ties and trade.

Another popular synonym is internationalization. The words are often seen as being used interchangeably but there is a good distinction between the two when it comes to their meanings. Internationalization is basically referring to the importance which international trade, treaties and pacts are holding due to the presumed immobility of capital and labor. The definition of this term has historical roots in the trade across Asia. At that time it was primarily carried out through Indian Ocean. At a later stage, probably at the end of nineteenth century, the term was again coined by Charles taze Russell. But the application of this word in corporate sector, and its possible definitions was not widely used till the start of cold war.

For the understanding of a common man the word is basically referring to the process by which the connectivity and interdependence of the worlds markets increases exponentially. The increase is caused primarily by the reduction in tariff barriers, improved communication and direct investments making its way to countries with cheap human resources. The most commonly used definition comes straight from the Oxford English dictionary. Here the word takes its meaning from a publication titled Towards new Education written in 1952. The meaning of globalization defined by the context in this publication is to describe a holistic view of educational experience by man.

United Nations is of the view that this term can be defined in a number of ways. All these definitions are context dependent. For example, in context of business, the word refers to the removal of barriers caused primarily, by national boundaries. From the point of view of a social analyst, this word has the sense of removing hindrances in the communication of different cultures. The removal of these obstructions will help the people to interact with each other having a diverse background. This concept is also defined as the possible integration of economic as well as technological, social, cultural, political and biological assets of national level in the international economy. The word also refers to the free circulation of ideas and cultures which are of playing an effective part in overall progress of human race. The part of world which has gone through globalization is called globalized.

Different definitions of globalization are being used in the world. With the increase in connectivity and ease of transportation the ultimate goal of the world is to have a more vibrant economy. So implementing this concept in a good spirit is the need of the hour if we are to make progress as a human race.