GLOBALIZATION, excellent psper about the integration of the world.Also explained 3 perspectives of the Global Economy. Used exampled from book by Thomas Friedman.

Essay by janickovasUniversity, Bachelor'sB+, January 2003

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More then a decade ago, world was divided into two half's: capitalistic and communistic. Cold War era had its own rules and ideas. Technology wasn't as advanced, foreign relations and politics weren't moving anywhere. Things were fixed and stable. Everything was pretty much "frozen". That's why it was called Cold War era. But after the fall of Berlin wall in 1989, things have changed dramatically and globalization turned its wheels on the highest level. One of the current globalists and writers Thomas Friedman calls globalization in his book, The Lexus and the Olive Tree: Understanding Globalization, as a "new international system". (Friedman) He describes it as an integration system of markets and nations where things are a lot faster and cheaper then ever before. Its defining measurement is a speed. It is a system of new technologies, digitization, communicating and most known, the system of Internet. I liked how Friedman described globalization into one word: "the WEB".

(Friedman) The main idea of it is free-market capitalism. It is the opening country's economy to free trade and foreign investments.

A big part of globalization is also the Global Economy. World Economy is operating of the entire globe, with boundaries far larger then that of any political unit, where there is an ongoing social division of labor with an integrated set of production that relate to each other through market. (Brown) There are three major economic perspectives that describe different point of views on economy in the state and nation. The first one is economic nationalism. In another words economic realism. Economic nationalism assumes that politics should be a primary concern of economics. Nationalists say that state should act on its own best interest in market. National interest is the number one factor. (Dr. Butenhoff) Nationalists believe in the...