Saturday, November 15, 2008

History of globalization?

Economists have been using the term globalization since 1980s while social scientists have been using it since 1960s but the term has gain momentum in its more common usage only in the late 80s and early 90s. However the early forms of globalization existed during Roman Empire, the Parthian empire, with silk route in china and also during mogul empire.However ,globalization as a business proposition came into being with the established of British east India company , which is often termed as the first multinational corporation in the early 16th century with its counterparts in Portugal and Netherland. The credit of first era of globalization goes to the 19th century because this period demonstrated a lot of investment in trade between the European imperialist powers, its colonies and later the United States. It was also during this period that sub Saharan Africa and the island pacific were incorporated in to the world system. This period however began to come to an end with the First World War.

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