The process of globalisation in the last quarter of a century is without historical precedent. Do you agree?
Globalisation is a wildly popular subject of discussion in today's literature. It is a phenomenon which has many different dimensions, which include economic, cultural, environmental and political issues. There is a wide spectrum of different opinions about its origins, present effects and future outcomes. Moreover, almost every globalisation aspect is a subject of a very heated academic debate. The topic is so debatable that there is no one conventional definition of globalisation. Nevertheless, it can be narrowly defined as the international integration of markets in goods, services and capital. Thomas Friedman defines globalisation as "that loose combination of free trade agreements, the Internet and the integration of financial markets that is erasing borders and uniting the world into a single, lucrative, but brutally competitive marketplace." Whereas Dicken defines globalisation as "a more advanced and complex form of internationalization which implies a degree of functional integration between internationally dispersed economic activities" (Dicken, P. 2003).
Academic debate.
There is much academic discussion about whether globalization of the last quarter of a century is a real phenomenon or only a myth.…
