Like many other social scientific terms, the exact meaning of globalization has always been unclear. It does not have a single point of origin, but emerged in the mid to late 1980s in several disciplines. In the general sense, globalization is the increasing interaction of people through the growth of the international flow of money, ideas, and culture. It first manifested in media and cultural studies as early as the 1970s—the spread of TV, telephones, information and communication technology (ICT), and other media provided an enduring image of the technological “shrinking” of space, a defining trait of globalization. Advances in the means of transport (such as the steam locomotive, steamship, jet engine, and container ships) and in telecommunications infrastructure (including the rise of the telegraph and its modern offspring, the Internet and mobile phones) have been major factors in globalization, generating further interdependence of economic and cultural activities. In connection to the study of globalization, global political economy (GPE), or international political economy (IPE), is an academic discipline that analyzes economics and international relations. As an interdisciplinary field, it draws on a few distinct academic schools, most notably economics, political economy, political science, sociology, history, and cultural studies. Other topics that command substantial attention among IPE scholars are international trade, international finance, financial crises, macroeconomics, development economics, and the balance of power between and among states and institutions.
Ronen Palan and Angus Cameron
Stefan H. Fritsch
International information and communication have become central cornerstones for global economic, political, social, and cultural actors, issues, structures, and processes. Accordingly, various social science disciplines have become interested in understanding international communication’s economic properties and also produced empirical evidence demonstrating its remarkable impact on global economic development. Subsequently, the relationship between technological evolution and the evolving economics of international communication has become of central importance to the analysis of international communication. Of particular relevance in this context is digitization’s impact on information and communication technologies and related digital conversion processes of once separated media and business sectors. In this context, the constantly evolving economic and technological properties of international information and communication systems and the economic opportunities/challenges they pose have also motivated or forced individuals, business enterprises, states, as well as international organizations to pursue structural and policy changes in order to reap the potential benefits of international information and communication.