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Short Exercise Read “After the Crash: The Future of Globalisation” by Robert Skidelsky and then write a 500 word response to this question Essay Example

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The Future of Globalization

What does Skidelsky think is the likely fate of globalization?

Globalisation, in the definition of Robert Skidelsky, is a process that culminates to the formation of a single world system arising from the integration of national economies through people migration, investments and trade (Skidelsky 1-3). Globalisation, therefore, involves world states. Therefore, for globalisation to occur and continue, there is a preliminary requirement of increased indifference between people and world states (governments) with respect to the source of the goods and services available for consumption in the domestic market. In other words, people and government of a given state should be ready to consume goods and services from another state without consideration of the origin, but primarily considering other factors of consumption, such as price and quality. In doing so, there would be the creation of a single economy wherein goods and services would freely circulate. A perfect globalisation would result to cultural-blind and frontier allocation of resources whereby geographical distance between various places would arguably the only barrier towards resource allocation, movement of goods and services and consequent consumption of goods and services (Skidelsky, 12). This is the standard that Skidelsky uses as the basis of his argument about globalisation.

Based on the aforementioned standard, Skidelsky is pessimistic about globalisation suggesting that globalisation is still at its very infant stages, and its future is not guaranteed (Skidelsky 4-21). Skidelsky is further pessimistic about globalisation suggesting a high possibility of never attaining globalisation based on the aforementioned standard. In fact, according to Skidelsky, globalisation will most probably come to a halt, with a high possibility of reverse action occurring (on globalisation) long before we reach the end point. The reason behind the failure (and possible reverse action) of globalisation is the possibility of disintegration in the world with respect to trade. According to Skidelsky, “as we fail to solve our problems globally, the international economy will start to fragment” (Skidelsky 19).

Politics is the primary reason behind the possible failure (and reverse action) of globalisation, as Skidelsky suggests. Global politics is the main determiner of globalisation bringing in the concept, that the beginning of politics marks the end of globalisation. The reality of this concept is clearly evident in Skidelsky’s argument that political agreements resulted to the formation of notable organisations, such as the United Nations and World Trade Organisation (Skidelsky 13). The implication here is that realising globalisation requires aligning it with important political interests.

Another reason why Skidelsky is pessimistic about globalisation, which is also a political reason, is that the continuation of globalisation requires the establishment of a common ‘playing ground’ with well-established ‘rules of the game’. However, Skidelsky believes that there is a high impossibility of such an occurrence where there well established and respected rules of engagement for globalisation to continue. For example, the United States is well known for operating as it wishes in that “its lawyers regularly and actively seek to change the law” whenever the “US government wishes to act in a manner that is inconsistent with existing international law” (Skidelsky 15). This implies that such notorious behavior by powerful nations will not support globalisation. Failure to have a law or to observe the international law, according to Skidelsky, will lead to disintegration, which is the opposite of globalisation.

Works Cited

Skidelsky Robert. “After the Crash: The Future of Globalisation” Survival: Global Politics and Strategy 54.3 (2012): 7-28.