The scope and implications of globalisation

During the 1990s and 2000s ‘globalisation’ became arguably the buzzword of the times. For all its resonance in academic and popular discourse, ‘globalisation’ often remained a vague and elusive concept. Globalisation has been widely used to refer to sharp increases in levels of international economic flows since the 1970s. Using various definitions, authors have typically claimed either that it heralds the demise of the nation state or that it amounts to nothing new. This chapter proposes an analytic approach to globalisation, argues that available evidence does point to a fundamental transformation in the world economy, which in key respects is unprecedented, and draws implications for nation states and the welfare of their citizens.