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Globalization & its impact on Democracy

The gathering momentum of globalization in the world economy has coincided with the spread of political democracy across countries. Economies have become global. But politics remains national. This essay explores the relationship between globalization and democracy.For economists, globalization refers to the expansion of economic transactions and the organization of economic activities across political boundaries of nation states. This epoch of globalization has also witnessed the spread of political democracy across countries in the developing world and in the transition economies. Such democratic politics is mostly about electoral democracy in some form, even if people do not always have the political rights or political freedoms that democracies should ensure for their citizens. There are many that exist. Some are entrenched, while some are under siege. In a large number of these countries, however, dictatorial regimes are subject to increasing question, as aspirations for democracy are rising everywhere. In this essay, I explore the relationship between globalization and democracy. It begins with a simple analytical construct derived from economics that suggests trade-offs between globalization, the nation state and democratic politics. In reality, of course, the relationship is neither linear nor characterized by structural rigidities. It then analyzes the relationship between market economy and political democracy in a national context to show that it is interactive, so that such an approach is useful for an understanding of the international . The essential next step is to consider whether political democracy within countries might exercise some checks and balances on markets and globalization, which also provides a closure. In sum, my argument is that the relationship between globalization and democracy is dialectical and does not conform to ideological caricatures.The relationship between democracy and development is considered to set the scene for the pressing contemporary issue of how globalization might affect democracy and vice versa. To move beyond simplistic binary oppositions, we turn to the work of Karl Polanyi who famously posited a dual movement of market expansion on one hand matched by increasing social control over it on the other hand. We see how globalization, at one and the same time, creates a growing process of social exclusion within and between nations but also the social movements that will contest it and seek to democratize it. Democracy is accelerated through globalization by the most important tools of communication between states and the people. Trade, foreign investment, finance, migration, environment, and culture are the tools which help in promoting democracy by creating more integration. Trade always played an important role in lessening from the gap between the different social classes and made it easier for the population to share ideas, ideals, and information faster and better. The globalization of trade and using trade as a tool to communicate with other states is rather important to democratic states and now we are able to buy products and services from all around the world as well as specialize in different types of jobs and in making transactions with people from around the globe. Foreign investment is also valuable and helps in introducing countries to different investors from different states. In conclusion, I would like to emphasize that the relationship between globalization and democracy does not conform to ideological caricatures. It is neither linear nor unidirectional. In fact, the relationship between market economy and political democracy in a national context is mirrored in the relationship between globalization and democracy in the international context . And there is an interaction between economics and politics that shapes outcomes. This essay, which has explored what globalization and democracy mean for each other, is no more than a modest beginning.