Globalization: a theoretical reflection

Purpose – The purpose of this paper is to evaluate and situate globalization within the context of different theoretical perspectives, with a view to developing a theoretical framework for understanding and interpreting this phenomenon. Design/methodology/approach – In the light of historical and empirical evidence, this paper uses the idea of parallax to explore, synthesize and interpret globalization. Evidence is marshalled in order to enable comparative assessments on the merits of the globalized system to take place. Findings – A materialist approach is identified as appropriate for aiding and deepening our understanding of the processes at work. It best captures the complexities and contradictions in the global economy. Originality/value – This paper develops a critique that locates globalization within the process of accumulation and teases out its attendant crises and efforts to restore profitability. The materialist approach developed here may be successfully applied in a holistic manner.