Globalisation: Development and the two sides of modern society

Abstract

This paper examines the process of globalisation and presents both its positive and negative dimensions. Using a qualitative, literature-based approach, the study reviews key theoretical interpretations of globalisation and its economic, political, technological, social, and cultural consequences. These dimensions concern, among other things, the capacity of major states, international institutions, and transnational economic actors to influence technological, economic, informational, political, and cultural developments. Despite ongoing debates about its scope and consequences, globalisation has taken on an increasingly comprehensive character, spanning geographical, national, cultural, and religious boundaries. It encourages economic integration, market expansion, and capital mobility, while critics also associate it with social, cultural, and material forms of inequality and homogenization. The analysis indicates that the benefits and costs of globalisation are unevenly distributed and depend substantially on institutional capacity, regulation, and states' ability to adapt to technological and economic change.