Impact of Globalization on Democracy

The Impact of globalization on democracy!

  We have increasingly become accustomed to hearing of

  terrorism, poverty and environmental disasters etc.

  occurring all over the globe. Many may even have become

  somewhat desensitized to the various reports emanating

  from our newsrooms. Sentiments such as feelings of

  ‘inevitability’, hopelessness or anger that ‘things are not

  working’ in our globalized society, are commonplace.

  After the shortcomings of state protectionist policies,

  evident in the 70s and 80s Australia, financial

  liberalization has been welcomed by many as the most

  important trend in, not only Australia but also the modern

  world economy (Treasury & Reserve Bank 2003). Others

  argue that this development is causing the problems of

  our contemporary world (Andrew Hurrell et al, 1995, p.449)

  as well as the globalization phenomenon.

  Whether one subscribes to the inadequacy of economic

  liberalism in its’ position as the dominant political

  paradigm today, to solve the widespread problems we are

  facing, or believes it is responsible for those occurrences,

  it is evident that a number of political economists address

  global issues by exploring alternative models of

  governance, as apathy toward political participation

  abound (Robert Kuttner, p.155). David Held has made a

  case for cosmopolitanism, a global democracy “extending

  across nations regions and global networks” (1996, p.

  353). This author however takes issue with the possibility

  of and necessity for such global governance and argues

  that due to the policy inaction of economic liberalism

  which by popular perception governs the impact of

  globalization, democracy itself is in crisis. It is not hereby

  proposed that democracy is in a state of collapse, rather it

  infers that its’ strength is challenged and efficiency...