Midterm Soci 3340 - Isabelle Smithard SOCI 3340 Midterm Review Introduction to Global Society Theories of Globalization There is not a single Theory of

Midterm Soci 3340 - Isabelle Smithard SOCI 3340 Midterm...

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Isabelle Smithard 6/3/15 SOCI 3340 Midterm Review Introduction to Global Society Theories of Globalization There is not a single “Theory of Globalization” but many theoretical discourses These tend to be grounded in broader theoretical perspectives such as Marxism Weberism Functionalism Postmodernism Feminist Theory Theories from other disciplines Eric Hobsbaum (1975), Globalization has been a result of technological advancement and innovation that lead to unifying the world. McMichael Views it as a global development project through the lens of capitalism He claims that it is the result of the debt crises that the developing nations across the globe faced. This led to the countries around the world to restructure their economic policies to global market and weakening of the state. Creating opening of countries’ borders to economic liberalization, migration and free trade policies (IMF 2008) and what can be marked as economic globalization. Immanuel Wallerstein, World System Theory Many see it as a “precursor” to Globalization theories Immanuel Wallerstein was the founder of the W. S. Theory He tends to view Globalization not as a recent phenomenon He focuses on economic process as the driving force for social change According to Wallerstein, the world is like a social system with boundaries. These boundaries are socially structured and produced, and have characteristics of individuals, groups, and nations in it The world economy is an interdependent, integrated system (organism) with centralized authority, and economic power as its main driving force Wallerstein believes that the modern world system seems to be an extension of the earlier world systems that were run by empires, ottoman. However, the difference between the new and old system was that the empires practiced one culture, they were ruled by royal families,
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the exchange and division of labor was maintained within a political boundary. Wallerstein explains that the new world system is one system, which has several cultural systems, and practices single division of labor. He mentions that in the new system The core has remained composed of several states, exhibiting a phenomenon called the “hegemonic sequence” The hegemonic structures of the modern world-system are thus less politically centralized than were the earlier core-wide empires” (Chase-Dunns & Grimes, 1995: 390). For Wallerstein, the world economy characterizes exploitation and dependency. He explains that the world economy is based on geographical division of labor that divides the world into three main areas- the core, the semi-periphery and the periphery .
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