Explain the role of ecnomics and sociology in the context of globalisation?
Answers
Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the 2 others being political globalization and cultural globalization, as well as the general term of globalization.Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. Whereas globalization is a broad set of processes concerning multiple networks of economic, political, and cultural interchange, contemporary economic globalization is propelled by the rapid growing significance of information in all types of productive activities and marketization, and by developments in science and technology.