Globalisation or imperialism?

Abstract

The article details and criticises both the theoretical and empirical weaknesses of the widely used concept of globalisation. The article sets out and discusses three arguments concerning the phenomenon of globalisation: first, that globalisation is a novel phenomenon; second, that the state has become an anachronism; and third, that the technological revolution is the main impetus behind globalisation. The article challenges these contentions, and argues, to the contrary, that the concept of globalisation obscures more than it reveals; that the macro‐dynamics of the world economy can best be understood through an analysis of the active role of the imperial state and the opening up of overseas opportunities via political power; and that developments associated with the new information technology are subordinate to more important developments grasped with reference to the concept of imperialism.