Economically, globalization involves goods and services, and the economic resources of capital, technology, and data. Also, with the expansions of global markets liberalize the economicactivities of exchange of goods and funds. Removal of Cross-Border Trades barriers has made formation ofGlobal Markets more feasible. Globalization and its Impacts on the World Economic Development.[
Though many scholars place the
In 2000, the
The term globalization derives from the word globalize, which refers to the emergence of an international network of economic systems. One of the earliest known usages of the term as a noun was in a 1930 publication entitled Towards New Education, where it denoted a holistic view of human experience in education. The term 'globalization' had been used in its economic sense at least as early as 1981, and in other senses since at least as early as 1944. Theodore Levitt is credited with popularizing the term and bringing it into the mainstream business audience in the later half of the 1980s. Since its inception, the concept of globalization has inspired competing definitions and interpretations. Its antecedents date back to the great movements of trade and
In Global Transformations,
Although in its simplistic sense globalization refers to the widening, deepening and speeding up of global interconnection, such a definition begs further elaboration. ... Globalization can be on a continuum with the local, national and regional. At one end of the continuum lie social and economic relations and networks which are organized on a local and/or national basis; at the other end lie social and economic relations and networks which crystallize on the wider scale of regional and global interactions. Globalization can refer to those spatial-temporal processes of change which underpin a transformation in the organization of human affairs by linking together and expanding human activity across regions and continents. Without reference to such expansive spatial connections, there can be no clear or coherent formulation of this term. ... A satisfactory definition of globalization must capture each of these elements: extensity (stretching), intensity, velocity and impact.
Held and his co-writers' definition of globalization in that same book as "transformation in the spatial organization of social relations and transactions—assessed in terms of their extensity, intensity, velocity and impact—generating transcontinental or inter-regional flows" was called "probably the most widely-cited definition" in the 2014
Swedish journalist Thomas Larsson, in his book The Race to the Top: The Real Story of Globalization, states that globalization:
is the process of world shrinkage, of distances getting shorter, things moving closer. It pertains to the increasing ease with which somebody on one side of the world can interact, to mutual benefit, with somebody on the other side of the world.
Globalization is the extension of social relations across world-space, defining that world-space in terms of the historically variable ways that it has been practiced and socially understood through changing world-time.
James and Steger stated that the concept of globalization "emerged from the intersection of four interrelated sets of '
Lechner and Boli (2012) define globalization as more people across large distances becoming connected in more and different ways.