Globalization’s eroding effect on state power is empirically overstated

Evidence

Two broad perspectives have emerged in this literature corresponding to what Hobson and Ramesh (2002) have identified as ‘structuralist’and ‘agent-centric’approaches.The first of these associates globalization with an unequivocal loss of state power to define economic and social policy and protect citizens from the ravages of the global market. Popular writers (e.g. Greider,1997) have been the most vocal champions of this perspective,but it is well represented in the scholarly literature as well (Cerny, 1996; Gill and Law, 1988; Strange, 1996). Critics of this view have reasserted the agency of state actors, suggesting that both the degree of global economic integration and its effect on the state have been overstated. In particular, the lion’s share of economic activity in the advanced industrial economies is still oriented towards domestic markets; moreover, foreign investment is concentrated between advanced industrial economies, undermining any expectation of a ‘race to the bottom’ (Gordon, 1988; Hirst and Thompson, 1999; Wade 1996). Given these findings, it is difficult to square the supposed effects of globalization on the state with the rather limited extent to which international economic integration is in evidence—particularly in large economies such as the US. — Greta R. Krippner, The Financialization of the American…, 137

Categorization

• XREF: Connects to the globalization-vs-state debate in political economy and Krippner’s broader thesis that financialization, not globalization, drives US state transformation. — connects to: Globalization writing lacks historical perspective on state power — Alex Callinicos, Against Postmodernism: A Marxist…, 518; Economic globalization undermines the nation as a coherent framework, fueling closed nationalist reactions — David Theo Goldberg, John Solomos, A Companion to Racial and Ethnic Studies, 3167; Globalization weakens national sovereignty while deepening global inequalities — Stuart Hall, Essential Essays, Volume 2: Identity…, 319 (+6 more)

Related

• Globalization writing lacks historical perspective on state power (similarity 0.86)
• Globalization weakens national sovereignty while deepening global inequalities (similarity 0.82)
• Economic globalization undermines the nation as a coherent framework, fueling closed nationalist reactions (similarity 0.82)
• Globalization has occurred in multiple distinct historical waves (similarity 0.79)
• States gain global influence only by surrendering some sovereignty (similarity 0.79)

Broader Connections

• Globalization writing lacks historical perspective on state power #corroborates (0.95) — Alex Callinicos, Against Postmodernism, 518
• Globalization weakens national sovereignty while deepening global inequalities #complicates (0.85) — Stuart Hall, Essential Essays, Volume 2, 319
• Globalisation produces mutually opposed tendencies, not uniform worldwide change #corroborates (0.85) — Anthony Giddens, The Consequences of Modernity, 167
• Economic globalization undermines the nation as a coherent framework, fueling closed nationalist reactions #qualifies (0.80) — David Theo Goldberg, John Solomos, A Companion to Racial and Ethnic Studies, 3167
• Globalization has occurred in multiple distinct historical waves #corroborates (0.80) — David Theo Goldberg, The Threat of Race, 1730
• Globalization’s disruptions trigger reactive movements defending myths of unitary national identity #responds-to (0.75) — David Theo Goldberg, John Solomos, A Companion to Racial and Ethnic Studies, 3884
• States gain global influence only by surrendering some sovereignty #complicates (0.75) — Anthony Giddens, The Consequences of Modernity, 183