Politics in Europe/Globalisation

Globalization and Europe

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Globalization and Europe

Introduction

According to Joseph Stiglitz , globalization is the removal of barriers to free trade and the closer integration of national economies . The notion of globalization is frequently associated with a single model of modernity that arises spontaneously with the triumph of market forces and universal free trade . Stephen Gill cites a 1992 Oxford lecture by John Fleming , at the time the chief economist of the European Bank for Reconstruction and Development (EBRD , who argued that

`all countries are the same ' for the purpose of [economic] policy (despite their different histories ) and that the problem of economic reform was premised on two historical `facts ' namely `the uniformity of human nature ' and the `universality of technology

Celebrating the victory of liberal democracy over fascism and communism Fukuyama declared in The End of History , published in 1992 : there is a fundamental process at work that dictates a common evolutionary pattern for all human societies - in short , something like a Universal History of mankind in the direction of liberal democracy . Fukuyama added Economic forces encouraged nationalism by replacing class with national barriers . Those same economic forces are now encouraging the breakdown of national barriers through the creation of a single integrated world market

This same conviction has led many authors to the conclusion that states and national institutions will ultimately be subordinated to the requirements of global markets . According to De Navas-Walt , Proctor , and Mills , transnational and multinational ' structures and processes are becoming more inclusive than the state have a greater effect on key issues and , in that sense , may become more sovereign ' than states and tend ultimately to challenge the authority , legitimacy policymaking capacity , and policy-implementing effectiveness of states

The experience of the European Union (EU ) both confirms and refutes such projections . Originating in tentative steps towards economic integration , the reshaping of Europe has indeed transformed the continent from one of authoritarian rule , poverty , and wars into an area of democracy , prosperity , and stability . On the contrary , the European community is the result of a long and arduous process of institution building over a period of several decades . Economic forces did not exclusively create the new Europe rather , the European Economic Community and today 's European Union have gradually institutionalized the continent-wide market in to build the community . Economic integration , for the Europeans , has been one of several tools that have been utilized for the purpose of community building . The Europeans did not integrate in to have a single market they have created the single market in to integrate

The literature on globalization abounds with references to the marginalization of nation-states and the increasing irrelevance of national governments . The European experience , on the contrary , has involved reconciling national histories and institutions in a common ethical project . The globalization literature assumes that universal markets will necessarily raise per capita GDP . The European project requires that markets raise the GDP to promote social well-being . The nation ' and the...