Globalization and Mondialisation - A Conceptual Analysis

Definitely one of the most controversial terms in recent history, globalization (also spelt globalisation) was called “the most abused word of the 21 st century” by The Economist. Many authors fear that it is bound to become the cliché of our times. The concept behind the word radiates such a multiplicity of phenomena that in time it has received a tremendous number of definitions given by various people in various contexts having various purposes in mind. The concept of globalization is relatively new compared to the process or historical trend of globalization which dates a long time back in the history of mankind. Thomas Friedman, author and New York Times columnist, perceives globalization as the chief force shaping and moulding the world today. Globalization is a word used in Anglo-Saxon literature. The Francophone literature uses another term – mondialisation. Though often treated as synonyms, in French, globalization is seen as a stage following mondialisation, a stage that implies the dissolution of national identities and the abolishment of borders inside the world network of economic exchanges.