Comparative Politics and Globalization
World Politics is a very broad umbrella term which covers a lot of subtopics into two broad categories which are world politics and international trade. Global politics, also called global economics, refers to both the field which studies the economic and political patterns of the global region and the global political framework. At the heart of this field are the various processes of global political globalization as regards issues of national social influence. The major areas of research that have been largely influential in the development of modern global economics are political science, sociology, economics and business. There has also been significant input from the humanities, like the history of world literature, political theory, psychology and anthropology.
International trade is very much connected to world politics and the policies developed by different governments to encourage international trade and decrease barriers on trade. In most developed countries, there are substantial differences in the way policies for the protection of foreign investment are formulated, and these policies affect the domestic industries of the country in question. As a consequence, there are policy formulations and actions that diverge significantly from what would be found in a policy framework that was national. This divergence results in the creation of a complex set of terms like “world politics”, “international political economy” or “international political culture”.
Comparative political economy tries to bridge the gap between global economics and world politics by focusing on the analysis of similarities and differences between economies at the national level. A lot of systematic research in this area has been done over the past decades, which have helped us understand the nature of international trade. A similar level of analysis has been done using comparative approaches in world politics. It has been found that political systems have important effects on the processes of international trade.
International Political Economy tries to explain the relationship between globalization, international political system, international institutions, and the emergence of new regional, economic, and political powers. Comparative political science is used to examine how changes in political systems have affected the evolution of the world economy. The current growth and changes in the international relations and the institutions of world politics are the major reasons behind the recent globalization.
Comparative political science has been helpful in determining the causes of political globalization, explaining the emergence of new centers of growth across many regions of the world, and how such globalization affects the institutions of world politics. There are four broad theories that explain the development of international political economy: state protectionism, the endogenous nature of competition, liberalization, and globalization. The theory of state protectionism suggests that protectionist policies cause the emergence of monopoly interests, high levels of development, and globalization. According to the theory of endogenous competition, there is no way to force international organizations to coordinate with each other. On the other hand, liberalization is the process by which nations open their markets for global capital.
One other influential political theory on the globalization of world politics is globalization as a zero-sum game. This approach argues that because all values are simultaneously important to all people, the outcome of globalization depends on the extent of the differential importance of these values. The third theory of globalization according to the international organizations is the rise of international bureaucracy. This globalization occurs due to the rise of new administrative powers, liberalization, and globalization. The last theory, the universalizability of global processes, highlights the existence of a world perspective, a perspective that holds the interests of all people, irrespective of their national identities.