These varied definitions eventually and perceived problems occasioned by globalization lend credence to its mythical aspect. This paper explores whether globalization is a myth.
Globalization has several facets depending on the approach an individual takes: these ranges from economic activities, to interactions of people and cultural mix, to communication. In light of these factors, Busemeyer (2009, p.457) narrows down the facets by indicating that globalisation encompasses a real-time communication caused by electronic passage of information; it enhances interrelation between the economies of nation-states; and triggers a shrinking global society where territorial borders play a less significant role in socio-economic processes. Moreover, globalization leads to the growth and integration of cultures, economies and political systems (Andreas, 2011, p.408).
Despite, the clear consensus on the term globalisation, different ideologies on globalisation have come up, trying to explain these factors in diverse ways. The first school of thought seeks to outline the significance globalization, arguing that it is the only way out of sociological problems facing the world. But the second one sees globalization as a myth.
The pro-globalization forces are at the fore-front of the processes leading to globalisation. From this standpoint, globalisation embodies a new period of history in which the importance of separate nation-states is slowly being wiped out of existence by a common and ‘fair’ economy governing the whole world (Busemeyer, 2009, p.456). Supporters of this theory perceive globalisation as causing a transfer of the influence of nation-states and economies to international systems supporting greater economic activities like manufacturing of commodities, improved business opportunities and easier acquisition of capital. From this perspective, global assets and the post-modern market environment are marked by