Question

In: Economics

Social Scientists say the elements of globalization capitalism, trade, and technological revolutions are breaking down old...

Social Scientists say the elements of globalization capitalism, trade, and technological revolutions are breaking down old obstacles and mindsets. With that in mind, is the notion of national sovereignty an outmoded concept?

Solutions

Expert Solution

First of all i would like to tell you that we all know that every concept has its merits and demerits and also in this case same thing is applied.it means globalization,capitalism,trade and technological revolution etc. has its own merits and demerits and there are various kinds of opinion regarding this topic.some are supporting it and some are criticizes it.

now coming to your question yeah it very much true that the elements of globaliztion are breaking down old mindsets.because after globalization everything in this world comes closer.it mean globalization broke the boundaries between countries trade and now it is very much like an open market for other countries to trade in another country which has its own merits and demerits like if a country is developed then it will have more advantages because country's infrastructure,industry sector will be more efficient to sell its goods in other countries while a under developed country or developing country will have less things to export.but any country should not be against globalization because we must either adapt to it and move forward or be left behind in terms of progress.

now that we have understood the importance of globalization we will talk about that "is the notion of national sovereignty an outmoded concept"

we cannot agree with it fully because even after globalisation, states still hold enough power to influence their domestic economies And at least the larger, wealthier states governments, remain in a position to determine the rules of the game.among other countries nation state is always remain in a key position.there is no other option which can command or control that nation state like its own government can do. States are able to manage transnational flows such as international migration through stricter border controls and to restrain the flow of capital through the imposition of capital controls.

but it is also true that "globalization is changing traditional conceptions around the practice of national sovereignty" not fully but it is changing like before 1991 india does not alllow other countries to sell its goods like free market in india but after economic reforms in 1991 india has to adopt world bank and wto conditions for recovering from crisis.but after there is a reduction in capacity of indian government to set independent national objectives and to impose their own domestic policies.because international organisation have forced it  to transfer some of their traditional powers and functions.but these kind of policies are becoming very helpful of development of a nation state because now they have to compete in international market so it helps in better growth of a country.

so in the end we can conclude that the notion of national sovereignty is now becoming a little bit less popular as compared to before globalisation but its not an outmoded concept till present because even after these kind of revolutions a country will think about its own betterment and growth and for this country will make sure that its policies and agreement will transfer some powers to other organisation and main power will remain in hand of a nation state to command itself so that its sovereignty will remain safe in this era.


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