Outcomes and influences Shifts Outcomes and influences

CapitalismHypercapitalism Commercialization (commodification) - determined by production and exchange - part of the accumulation and profit-making process - its expansion changing the nature of capitalism (hence, its impact on globalization)

Production Planetary growth of traditional industrial sectors: - postindustrial society implying redirection from agriculture and heavy industry to ”information economy” - towards a culture of consumerism - financial services as commodities/goods (traditional bond/share supplemented by ”floating-rate bonds, bonds with equity warrants, zero-coupon bonds, commercial paper, repurchase agreements, asset-backed securities and so on” [Scholte 166]) - information (software, services); genetic capital (GM foods)

New organizations Offshore centres Multinationals Increasing mergers and acquisitions Increasing monopolies? Overall consequence: capitalism not only cause but also consequence of globalizatioin

StatismPolycentrism (Partial) shift to municipal, provincial, national, macro-regional and global levels of regulation ”New medievalism” Post/Westphalian types of sovereignty rendered (partly) obsolete by supraterritorial information, financial, cultural flows

Caveats Not the end of state power The role of stronger states (relevance of political realism) Fragmentation of states: the difficulties experience/caused by smaller states

Global ”constituencies” Ambiguous policies resulting from national and transnational interests (i.e., Danish, German and Swedish governments joining environmentalist protests against Shell’s plan to sink Brent Spar in the Atlantic in 1995) Diverging policies on welfare (the impact of neoliberalism) Warfare (9/11; the impact of new technology) Transstate relations determining polycentrism (G7/8)

Bypassing the centre The (commercial, diplomatic, cultural) autonomy of regions - example: federal states in Brazil and India dealing directly with the World Bank Western Europe’s ”Four Motors’” network linking Baden-Württemberg, Catalonia, Lombardy and Rhône-Alpes EU (macro-regional governance) Transworld governance: UN, WTO, IMF, World Bank (target of protests, as well); NATO’s bombing of Serbia to protect Kosovo; Hague Tribunal (Milosevic)

Legitimacy, norms and privatized governance Sources of legitimacy in global governance as opposed to those in traditional states Company-based codes; ”corporate citizenship” Humanitarian aid (Save the Children, UNHCR) Civil society in a global world (addressing transplanetary problems: arms control, asylum seekers, climate change, debt relief, gender equality, etc)

NationalismHybridization Alternative forms of identity; no longer only national Yet, nationalism still persistent; micro-nations (see fragmentation of states) Region-nations: Pan-African, Pan-Arab, Pan-Asian, Pan-European movements (religious, cultural, political criteria) Transworld nations: diasporas (exile); the example of Chile, the 13th region

Non-territorial identities Human (environment, human rights); global relief campaign; solidarity Religion (in an increasingly secularized world?) Social class Gender (rights, interests) Race (shared social experiences); the Non-Aligned Movement; Third World solidarity of the 1960s & 1970s Youth Sexual orientation

Increasingly mixed identities Communitarian approaches to shape solidarity are problematic Contradictory developments: increased hybridization; the return of nationalism