Globalization

-compression of time-space distances
-rapid flow of money, goods, ideas, people
-neoliberal capitalism
-adaptations and resistances
-globalization as empirical fact and as ideology

past globalizations:
    -the age of exploration (15th-16th centuries, and really up through the 17th and 18th centuries)
    -early global economies (e.g. the Atlantic triangle, China tea trade)
    -telegraph (1840s-1860s; 1868 first transatlantic cable) and telephone (Bell Co. est. 1877)

start of the present period:
    -early 1970s? (communication satellites, overly mature commodity and labor markets)
    -1990? (fall of Soviet Union, spread of neoliberalism and free trade, internet)

neoliberalism
    -Adam Smith (invisible hand, free markets) meet David Ricardo (comparative advantages of nations)
    -power of nation-states replaced by private companies?

beyond dependency
    -Wallerstein and the classic core-periphery distinction
    -but now much manufacturing is done in the "periphery"
    -core now focused on service and knowledge economies

Hannerz on the global ecumene
    -globalization as the intensification of global interconnectedness
    -economic + cultural flows of globalization
    -fears of cultural imperialism -- the McWorld global homogenization scenario
            -certainly the U.S. has the upper hand
            -but with globalization has come a form of deterritorialization than can benefit smaller players
    -cultural flows from the periphery to the centers
    -concerns in the West and core countries with cultural purity and authenticity
    -saturation and maturation of transnational cultural flows

Anthony Giddens:
    -trust in a postmodern world
    -interlocking global and local domains

globalization and localization