Globalisation definitions

There are many suggestions and debates on the question of how to define the concept of globalisation. Here are some few definitions commonly used: 

"Globalisation is a multi-dimensional process characterised by: 

• The acceptance of a set of economic rules for the entire world designed to maximise profits and productivity by universalising markets and production, and to obtain the support of the state with a view to making the national economy more productive and competitive; 
• technological innovation and organisational change centred on flexibilisation and adaptability; 
  the expansion of a specific form of social organisation based on information as the main source of productivity and power; 
• the reduction of the welfare state, privatisation of social services, flexibilisation of labour relations and weaker trade unions; 
• de facto transfer to trans-national organisations of the control of national economic policy instruments, such as monetary policy, interest rates and fiscal policy; 
• the dissemination of common cultural values, but also the re-emergence of nationalism, cultural conflict and social movements." 
  R. Urzua, 2000¹

"Globalisation can be thought of as a process (or set of processes) which embodies a transformation of the spatial organisation of social relations and transactions." 
David Held et al. 1999 

"Globalisation refers to all those processes by which the peoples of the world are incorporated into a single world society, global society." 
Martin Albrow, 1990 

"Globalisation can [...] be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa." 
Anthony Giddens, 1990 

"The characteristics of the globalisation trend include the internationalising of production, the new international division of labour, new migratory movements from South to North, the new competitive environment that accelerates these processes, and the internationalising of the state [...] making states into agencies of the globalizing world." 
Robert Cox, 1994 

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

Globalisation refers to the integration of markets in the global economy, leading to the increased interconnectedness of national economies.  Markets where globalisation is particularly common include financial markets, such as capital markets, money and credit markets, and insurance markets, commodity markets, including markets for oil, coffee, tin, and gold, and product markets, such as markets for motor vehicles and consumer electronics. The globalisation of sport and entertainment is also a feature of the late 20th and early 21st centuries.

Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services. The biggest companies are no longer national firms but multinational corporations with subsidiaries in many countries.

Globalisation has been taking place for hundreds of years, but has speeded up enormously over the last half-century.

Globalisation has resulted in:

• increased international trade
• a company operating in more than one country
• greater dependence on the global economy
• freer movement of capital, goods, and services
• recognition of companies such as McDonalds and Starbucks in LEDCs

Although globalisation is probably helping to create more wealth in developing countries - it is not helping to close the gap between the world's poorest countries and the world's richest.