Economically speaking, globalisation is a process that involves transferring resources from one country to another. The significant aspect of economic globalisation is that it involves lessening or even eliminating barriers that constrain the free movement of trade, business, and so on. Chomsky, an american writer and political activist has an assorted critique of globalisation. Global financial institutions such as the International Monetary Fund (IMF), World Trade Organisation (WTO) and the World Bank are examples of international organisations that serve the purposes of rich states, and exploit developing and poor states. Though it can be said that globalisation helps poor and developing countries as they have access to the open market,
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For the developing world globalisation is important, because, yes it allows cheap imports and exports, access to the free market, but both the systems of globalisation and colonialism use the countries in the ‘global south’ in unequal ways. I think it can be argued that indirectly, globalisation can be called a form of colonialism in that it stops the growth of third world nations. The modernisation theory of development is a post war theory of development. the theory believes in the western capitalist model of development as a template for developing countries. American economist Walt Rostow created a model for economic growth in the 1960s, which is considered the outline for the modernisation approach. Rostow suggested that development should be viewed as an evolutionary process in which poorer countries progress up a development ladder of 5 stages. Another modernisation thinker and sociologist Talcott Parsons, developed on Max Weber’s ideas of the modernisation theory. He emphasised the idea that in order for development to happen there needed to be cultural change and traditional values had to be replaced. The main criticism of the modernisation theory is that it is ethnocentric. It denotes that traditional values and ideas have little value and importance and that to develop as a nation you need to adopt or copy western ideals. Colonialism tried to take people from ‘tribal to civilised’ and can be argued now that modernisation tries to replace/move people from tradition to modern. There is a clear dominance of western culture around the world, on other countries, and there is this ‘stigma’ that in order to develop or to be accepted by society you need to be exactly like the western
For the developing world globalisation is important, because, yes it allows cheap imports and exports, access to the free market, but both the systems of globalisation and colonialism use the countries in the ‘global south’ in unequal ways. I think it can be argued that indirectly, globalisation can be called a form of colonialism in that it stops the growth of third world nations. The modernisation theory of development is a post war theory of development. the theory believes in the western capitalist model of development as a template for developing countries. American economist Walt Rostow created a model for economic growth in the 1960s, which is considered the outline for the modernisation approach. Rostow suggested that development should be viewed as an evolutionary process in which poorer countries progress up a development ladder of 5 stages. Another modernisation thinker and sociologist Talcott Parsons, developed on Max Weber’s ideas of the modernisation theory. He emphasised the idea that in order for development to happen there needed to be cultural change and traditional values had to be replaced. The main criticism of the modernisation theory is that it is ethnocentric. It denotes that traditional values and ideas have little value and importance and that to develop as a nation you need to adopt or copy western ideals. Colonialism tried to take people from ‘tribal to civilised’ and can be argued now that modernisation tries to replace/move people from tradition to modern. There is a clear dominance of western culture around the world, on other countries, and there is this ‘stigma’ that in order to develop or to be accepted by society you need to be exactly like the western