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Republic of the Philippines

Polytechnic University of the Philippines

Sta. Mesa, Manila

(Topic: Market Globalism)

Aryann Begonia
Lea Grace Hementera

BSA 1-4
(Reporter: Aryann Begonia)

o Ideology- a system of ideas and ideals, especially one that forms the basis of economic or
political theory and policy
o Early 1990s → field of global studies was dominated by accounts focusing primarily on
the economic and technological aspects of globalization
 A proper recognition of the crucial role of integrating markets and new
information technologies should be part of any comprehensive understanding of
o Malcom Waters‟ observation- the increasingly symbolically mediated and reflexive
character of today‟s economic exchanges suggests that both the cultural and political
arenas are becoming more activated and energetic.
 Increase on literatures regarding crucial cultural and political aspects of
globalization → researchers have paid insufficient attention to the global
circulation of ideas and their impact on the rapid extension of social interactions
and interdependencies across time and space
 Globalization scholars have been surprisingly hesitant to enter the misty realm of
o Ideological dimension of globalization with particular attention to its important discursive
(Reporter: Lea Grace Hementera)

What makes an ideology „political‟ is that its claims select, privilege and constrict social
meanings related to the exercise of power in society.

◦ Like all social processes, globalization contains an ideological dimension filled with a
range of norms, claims, beliefs and narrative about the phenomena itself.

◦ The social/global imaginary offers explanations of how „we‟- the members of a particular
community fit together, how things go on between us, the expectation we have of each
other and the deeper normative notions and images that underlie those expectations.
(Reporter: Aryann Begonia)

o Term „globalization‟- gained in currency in the late 1980s

 Divided by Arjun Appadurai → Global flows occur in different physical and
mental dimensions
→ Ethnoscapes, Technoscapes, Mediascapes, Finanscapes, Ideoscapes
 „globalization‟ → sold to the public in the ideological form of „market globalism‟
 Mid-1990s → large segments of the population had accepted globalism‟s core
→ Internalizing large parts of its overarching neo-liberal framework
 Deregulation of markets
 Liberalization of trade
 Privatization of state-owned enterprises
 Their efforts at de-contesting the master concept „globalization‟ went hand in
hand with the rise of market globalism
→ Ideological „de-contestation‟ → crucial process in the formation of
thought systems because it fixes the meanings of the core concepts by
arranging them in a pattern or configuration that links them with other
concepts in a meaningful way
 Ideology → attempts to end the inevitable contention over
concepts of decontesting them by removing their meaning from
→ „This is what justice means‟
→ „That is what democracy entails‟
→ Convincing us that they are right and they speak the
truth → became devices for coping with the
interdeterminacy of meaning their semantic role
→ need to decontest the concepts they use because they are
instruments for fashion collective decisions → political role
→ Central ideological claims → effective ideological de-contestation
 Pictured as simple semantic chains → conceptual links convey
authoritative meaning that facilitate collective decision making
 Interconnected semantic and political roles → suggests control
over political language translates directly into political power →
power of deciding „who gets what, when, and how‟
o CLAIM ONE: Globalization is about the Liberalization and Global Integration of
 Anchored in the neo-liberal ideal of the self-regulating market as the normative
basis for a future global order
 Rationality and efficiency; alleged ability to bring about the greater social
integration and material progress → vital functions of the free market
→ Can only be realized in a democratic society that values and protects
individual freedom
 „Market‟→ plays an important role in two established ideologies
→ Libertarian variant of liberalism (neo-liberalism)
→ Anglo-American conservatism (neo-conservatism)
→ Market globalism borrows heavily from both ideologies
 Should not be seen as ideological opposites → their similarities
outweighs their differences
 Neo-conservatives agree with neo-liberals on the importance of
„free markets‟ and „free trade‟
 Neo-conservatives → more inclined
→ combining their hands-off attitude toward big business
with intrusive government action for the regulation of the
ordinary citizenry in the name of public security and
traditional values
→ more assertive and expansive use of both economic and
military power (although they often embrace the liberal
ideal of promoting „freedom‟ and „democracy‟ around the
 Classical liberal idea of the self-regulating market → seeks to establish beyond
dispute ‟what globalization means‟ → to offer an authoritative definition of
globalization designed for broad public consumption
→ By interlocking its two core concepts and then linking them to the
adjacent ideas of „liberty‟ and „integration‟
 Passage in a BusinessWeek editorial defined Globalization as it is about the
triumph of markets over governments
 Driving force today is markets → suborning the role of government
 The size of the government has been shrinking everywhere relative to the
economy almost everywhere
 Thomas Friedman (1999) → “truth about globalization is free-market capitalism-
the more you let market forces rule and the more you open your economy to free
trade and competition, the more efficient your economy will be.”
 Globalization → the spread of free-market capitalism to virtually every country in
the world
 Semantic link between globalization and market → globalists seek to create the
impression that globalization represents primarily an economic phenomenon
→ Globalization acquires the necessary simplicity and focus to convey its
central normative message contained in further semantic connections to
the adjacent concepts of liberalization and integration
 Liberation of markets from state control is a good thing
 Notion of integrating markets is draped in the mantle of all-
embracing liberty
o Claim One as a global imperative anchored in universal
reason → de-contested as an economic project advancing
human freedom in general
o Globalization must be applied to all countries, regardless of
the political and cultural preferences expressed by local
 George W. Bush (National Security Strategy of the United State of America) →
“Policies that further strengthen market incentives and market institutions are
relevant for all economies- industrialized countries, emerging markets, and the
developing world.”
 Market globalist → globalization as a natural economic phenomenon whose
essential qualities are the liberalization and integration of global markets and the
reduction of governmental interference in the economy
→ Privatization, free trade, and unfettered capital movements are portrayed
as the best and most natural way for realizing individual liberty and
material progress in the world
→ Successfully persuaded the public → neo-liberal account of globalization
represents an objective or at least neutral diagnosis rather than a direct
contribution to the emergence of the very conditions it purports to analyze
 Empirical evidence for the „liberalization‟ of markets
 Ideological claim: globalization is about the liberalization and global integration
of markets
→ Serves to solidify as „fact‟ what is actually a contingent political initiative
 Neo-liberals → their economistic-objectivist representation of globalization
detracts from the multidimensional character of the phenomenon
 Ecological, cultural, and political dimensions of globalization → discussed only
as subordinate processes dependent on the movements of global markets
o CLAIM TWO: Globalization is Inevitable and Irreversible
 Second mode of de-contesting „globalization‟ → adjacent concept of
 At first, the belief in the historical inevitability of globalization → a poor fit for a
globalist ideology based on neo-liberal principles
→ Throughout the 20th century, liberals and conservatives have consistently
criticized Marxism for its determinist claims to devalue human free
agency and downplay the ability of noneconomic factors to shape social
 Neo-liberals attacked the Marxist notion of history → teleological
process that unfolds according to „inexorable‟ laws that hasten the
demise of capitalism
 Market globalists → focused on the „logic of technology and markets‟
→ Minimized the role of human agency and individual choice (the
centerpiece of liberal thought from John Locke and John Stuart Mill to
Milton Friedman)
→ Perspective: globalization reflects the spread of irreversible market forces
driven by technological innovations that make the global integration of
national economies inevitable
→ Almost always intertwined with the deep belief in the ability of markets to
use new technologies to solve social problems far better than any
alternative course
 Early 1980s → British Prime Minister Margaret Thatcher → “there is no
→ There no longer existed a theoretical and practical alternative to the
expansionist logic of the market
→ Accused those non-conformists who still dared to pose alternatives as
foolishly relying on anachronistic, socialist fantasies that betrayed their
inability to cope with empirical reality
 Governments, political parties, and social movements → no choice but to adjust
to the inevitability of globalization
→ Task: to facilitate the integration of national economies in the new global
 Serve to ensure the smooth working of market logic
 Market globalists → their reliance on such a monocausal, economistic narrative of
historical inevitability
→ Disagrees with the Marxists on the final goal of historical development
 They share with their ideological opponents a fondness for such
terms as „irresistible‟, „inevitable‟, and „irreversible‟ to describe
the projected path of globalization
→ President Bill Clinton (1999) → “Today, we must embrace the inexorable
logic of globalization… Globalization is irreversible. Protectionism will
only make things worse.”
→ Frederick Smith (chairman and CEO of FedEx Corporation) →
“Globalization is inevitable and inexorable and it is accelerating…
Globalization is happening, it‟s going to happen. It does not matter
whether you like it or not, it‟s happening, it‟s going to happen.”
→ Manuel Villar (1998) → “We cannot simply wish away the process of
globalization. It is a reality of a modern world. The process is
 Neo-liberal portrayal of globalization → natural force (weather or gravity)
 Claim of inevitability serves a number of important political functions
→ It neutralizes the challenges of alterglobalist opponents by depoliticizing
the public discourse about globalization
 Neo-liberal policies are above politics, because they simply carry
out what is ordained by nature
 This view implies that, instead of acting according to a set of
choices, people merely fulfill world market laws that demand the
elimination of government controls
 Since the emergence of a world based on the primacy of market values reflects the
dictates of history, resistance would be unnatural, irrational, and dangerous
o CLAIM THREE: Nobody is in Charge of Globalization
 Third mode of de-contesting globalization hinges on the classical liberal concept
of „self-regulating market‟
 Semantic link between „globalization-market‟ and the adjacent idea of
„leaderlessness‟ → if the undisturbed workings of the market indeed preordain a
certain course of history, then globalization does not reflect the arbitrary agenda
of a particular social class or group
 Globalists are not „in charge‟ in the sense of imposing their own political agenda
on people
→ They just carry out the unalterable imperatives of a transcendental force
much larger than narrow partisan interests
 Robert Hormats (1998) (chairman of Goldman Sachs International) → “The great
beauty of globalization is that no one is in control. The great beauty of
globalization is that it is not controlled by any individual, any government, any
 Thomas Friedman (1999: 112-3) → “The most basic truth about globalization is
this: No one is in charge… But the global marketplace today is an Electronic Herd
of often anonymous stock, bond, and currency traders and multinational investors,
connected by screens and networks.”
→ He utilizes a realist narrative to sell to his audience a neo-liberal version of
→ He implies that anyone who thinks that globalization involves human
choice is either hopelessly naïve or outright dangerous
 “nobody is in charge” → the neo-liberal political agenda of defending and
expanding global capitalism
→ The portrayal of globalization as a leaderless process seeks to depoliticize
the public debate on the subject and demobilize global justice movements
 Deterministic progress driven by uncontrollable market laws → turns political
issues into scientific problems of administration
 Globalist image of a self-directed juggernaut that simply runs its course (once
accepted by the population) → it becomes extremely difficult to challenge →
Antonio Gramsci‟s “power of the hegemonic bloc”
 Possibility of choosing alternative social arrangements → market globalism gains
strength in its ability to contrast passive consumer identities
o CLAIM FOUR: Globalization Benefits Everyone (… in the Long Run)
 De-contestation chain lies at the heart of market globalism → provide affirmative
answer to the crucial normative question of whether globalization represents a
„good‟ phenomenon
 Adjacent idea of „benefits for everyone‟ → „economic growth‟ and „prosperity‟
→ „progress‟ → taps not only into liberalism‟s progressive worldview, but
also draws on the powerful socialist vision of establishing an economic
paradise on earth
 Albeit in the capitalist form of a worldwide consumerist utopia
 Bold example of combining elements from seemingly incompatible ideologies
under the master concept „globalization‟
 1996 G-7 Summit in Lyons, France → the head of state most powerful
industrialized nations issued a joint Economic Communique (1996)
→ “Economic growth and progress in today‟s interdependent world is bound
up with the progress of globalization. Globalization provides great
opportunities for the future, not only for our countries, but for all others
too. Its many positive aspects include an unprecedented expansion of
investment and trade; the opening up to international of the world‟s most
populous regions and opportunities for more developing countries to
improve their standards of living; the increasingly rapid dissemination of
information, technological innovation, and the proliferation of skilled
 Market globalists who concede the strong possibility of unequal global
distribution patterns nonetheless insist that the market itself will eventually
correct these „irregularities‟
 John Meehan (1997) (chairman of the US Public Securities Association) →
„episodic dislocations‟ such as mass unemployment and reduced social services
might be „necessary in the short run‟ but „in the long run‟, they will give way to
„quantum leaps in productivity‟
→ Justify the real human costs of globalization as the short-term price of
economic liberalization
 Benjamin Barber (1996) → profit-oriented „infotainment telesector‟
→ Television, radio, and the internet frequently place existing economic,
political, and social realities within a neo-liberal framework, sustaining the
claim that globalization benefits everyone through omnipresent
affirmative images, websites, banner advertisements, and sound bites
o CLAIM FIVE: Globalization Furthers the Spread of Democracy in the World
 Fifth de-contestation chain links „globalization‟ and „market‟ to the adjacent
concept of „democracy‟
→ Plays a significant role in liberalism, conservatism, and socialism
→ Globalists de-contest „democracy‟ through its proximity to „market‟ and
the making of economic choices → a theme developed through the 1980s
in the peculiar variant of conservatism → Thatcherism (according to
Freeden, 1996)
 Globalists tend to treat „freedom‟, „free markets‟, „free trade‟, and „democracy‟ as
synonymous terms
→ The compatibility of these concepts often goes unchallenged in the public
 The neo-liberals generate popular support for the equation of democracy and the
market is by discrediting traditionalism and socialism
 Contest with both precaptialist and anticapitalist form of traditionalism → such as
→ Political principles of popular sovereignty and individual rights have been
enshrined as the crucial catalyst for the technological and scientific
achievements of modern market economies
 1970s → socialism provided a powerful critique of the elitist, class-based
character of liberal democracy
 The ideological edge has shifted decisively to the defenders of a neo-liberal
perspective who emphasize the relationship between economic liberalization and
the emergence of democratic political regimes
 Francis Fukuyama (2000) → asserted that there exists a „clear correlation‟
between a country‟s level of economic development and successful democracy
→ Globalization and capital development do not automatically produce
democracies, the level of economic development resulting from
globalization is conductive to the creations on complex civil societies with
a powerful middle class
 It is this „class‟ and „societal structure‟ that facilitates democracy
→ Limited definition of democracy → emphasizes formal procedures such as
voting at the expense of the direct participation of broad majorities in
political and economic decision making
 „thin‟ definition → Anglo-American neo-liberal project of
promoting polyarchy (William I. Robinson, 1996)
 The concept of polyarchy differs from the concept of „popular democracy‟
→ Popular democracy → posits democracy as both a process and a means to
an end- a tool for devolving political and economic power from the hands
of elite minorities to the masses
→ Polyarchy → represents an elitist and regimented model of „low intensity‟
or „formal‟ market democracy
 Limit democratic participation to voting in elections
 Require that those elected be insulated from popular pressures, so
that they may „effectively govern‟
 Focuses on the „act of voting‟ → equality prevails only in the
formal sense- helps to obscure the conditions of inequality
reflected in existing asymmetrical power relations in society
 Formal elections → provide the important function of legitimating
the rule of dominant elites
 The claim that globalization furthers the spread of democracy in the world is
largely based on a narrow, formal-procedural understanding of „democracy‟
 Neo-liberal economic globalization and the strategic promotion of polyarchic
regimes in the Third World → two sides of the same ideological coin
→ They represent the systematic prerequisites for the legitimation of a full-
blown world market
→ The promotion of polyarchy provides market globalists with the
ideological opportunity to advance their neo-liberal projects of economic
restricting language → ostensibly supports the „democratization‟ of the
(Reporter: Lea Grace Hementera)

o Distortion
 is the production of contorted images of social reality
 Most importantly, the process of distortion hides the contrast between things as
they may be envisioned in theory and things as they play themselves out on the
plane of material reality.
 For the French philosopher, distortion was merely one of the three main functions
of ideology, representing the surface level of a phenomenon that contains two
more functions at progressively deeper levels.
o Legitimation
 Two main factors are involved here: the claim to legitimacy made by the ruling
authority, and the belief in the authority's legitimacy granted by its subjects.
 Ricoeur highlighted ideology's function of mediating the gap between belief and
o Integration
 it provides society with stability as it creates, preserved, and protects the social
identity of persons and groups
 it preserves identity, but it also wants to conserve what exists
 Antonio Gramsci (1917) emphasized the integrative role of ideology. He noted
that dominant groups frequently succeeded in enticing the working class into
embracing a collective identity that ran contrary to their interests, allowing power
elites to maintain a favorable social order without having to resort to open
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