GLOBALISATION AND THE CONTRADICTIONS OF PERIPHERAL CAPITALISM IN NIGERIA
Globalization will benefit, globalization is good and it will bring even development to various economies. These are what is heard on the corridor of neo-liberalist, lauding and glorifying the concept as if it is a demi-god.But do not be deceived, for globalization is not what it sounds like. Looking back to the periods of 1979, it is recallable that the ideas of globalization could be attributed to the trade policies of the Thatcher administration in the United Kingdom; summed up as thus:
Privatization of states assets
Cuts in public spending, particularly through dismantling of welfare states
"De-regulation" of labour market
Liberalization of trade, which is forcing countries to open up their markets for foreign competition.
The basic focus of these policies was however, the increase or maintenance of capitalist profits through increased exploitation of workers and undeveloped countries (Said Adejumobi, 2001).
In the academic world, globalization has become a phenomenal point of discussion. As Frederick Jameson describes it, the "untotalizable totality" weighs in deed, on contemporary scholarship like incubus (Jordi Martell, 2002) .As phenomenal as it is so has it generated much contention.Guillen (2001) argues that observers and theorists of globalization have variously argued that the rapid increase in cross-border ,economic, social and technological exchange is civilizing ,destructive or feeble. But then, whichever way, when it comes to peripheral capitalist states, there is much contradiction.
However, those that argue in favour of globalization emphasize that globalization is bringing a new unprecedented opportunity to the world, an opportunity that would engender greater prospects of development and technological advancement .Thus, is globalization really happening? The question is so put in that, the concept per se seeks to promote global economy, integration, and trade liberalization .It tends to promote advancement in...