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| [[National laws for global capital markets - A contradiction?]] | | [[National laws for global capital markets - A contradiction?]] |
| The notion of globalisation can be defined as a “process (...) which embodies a transformation in the spatial organization of social relations and transactions, generating transcontinental or interregional flows and networks of activity, interaction and power.” (Held, D./McGrew, A./Goldblatt, D./Perraton, J. (1999) What is Glabalisation?). So it affects nearly every aspect of human life and is ubiquitous. But globalisation is not narrowed to the spatial coherence. It’s also taking place in digital space which is getting more and more important.
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| A historical overview of globalisation is very difficult, because a starting point is hard to distinguish. It deviates depending on who is considering it. Mezřický points out the beginning of globalisation in “...the deregulation of dependency of national currencies on the dollar” (Mezřický, V. (2006) The nature of globalisation. Global actors and driving forces). This is a very onesided view only at the economical or monetary part of globalisation.
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| But like industrialization or the expansion of western society globalisation marks a new epoch in human history (cf. Held, D./McGrew, A./Goldblatt, D./Perraton, J. (1999). Despite everything the term globalisation is very controversial and can split society. Because it brings along some negative side effects. Companies displace branches in countries with lower labor costs and workers they can exploit. Globalisation goes hand in hand with pollution, degradation and destruction as well as ecosystems and confronts primitive people and other cultures with western society by an “Americanisation of the world’s culture and the American way of life as an imitated and imported model” (Petrusek, M. The social dimension and sociological treatment of globalisation). For a reason there is a strong movement of antiglobalists. The risk theory by Beck says that global disasters are able to weld the world together. It means bad happenings like ecological catastrophes as a final result of globalisation can bring people together e.g. when they have a common aim.
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| Positive aspects of globalisation are the growing of total assets e.g. produced goods or financial capital. The prosperity of western society is a model for developing countries and an aim for their inhabitants. Globalisation also encounters people and makes it possible that the world population is able to see places of the planet which were inconceivable or unreachable in the past.
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| Very important and new in global economy is the aspect that national states have less power over huge companies or even the whole market: “Since the authority of states is territorially bound, global markets can escape effective political regulation.” (Held, D./McGrew, A. (2006) Globalization). Governments of countries have to make out the framework conditions but companies can choose in which country they want to build a factory. So states try to attract companies with tax savings, subsidies or smooth laws. Those who don’t play along are falling by the wayside.
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| *Helena Radoňová | | *Helena Radoňová |