Globalization is measurable through transaction extensity, intensity, velocity, and impact

Evidence

Many long-distance transactions can be digitized and therefore performed in “real time,” that is, practically without any time delay, without large costs or friction losses: capital investments, information transfers of all kinds, and the simultaneous processing of virtualizable products around the globe are the most well-known examples of this. … Naturally, this reduction of the costs, resistances, and time needed to overcome distances has effected a quantitative increase of the corresponding volume of transactions. … Thus the investigation of Held and colleagues quite consistently yields the result that the newness of contemporary globalization consists above all in an escalation of the global velocity and intensity of transactions in many spheres of society. The heightening of the degree of impact propensity is then primarily a consequence of increases in those two dimensions. — Hartmut Rosa, Social Acceleration, 564

Categorization

• DEFINE: Held’s four-parameter definition of globalization (extensity, intensity, velocity, impact) with extensity as the defining criterion of globality.