Globalization and the Spread of Democracy:
In the post-cold War political discourse, the notion of democracy has been the spearhead in the American foreign policy agenda. For many of the Washington based think tanks, globalization through its corporate, economic, monetary, technological, and cultural elements has been the primary assertion of policies to promote democracy and liberal economic ideals throughout the world, hence establishing and imposing a post Cold War Pax- Americana through political and economic hegemony. However, to better understand this intertwined relationship between globalization and democracy it is important to breakdown the dynamics of liberal economics and political capitalism in parallels with the enforcement of the international market system.
Globalization, “described as the increasing global integration of economies, information technology, the spread of global popular culture, and other forms of human interaction” , ( Lieber and Weisberg 274) has been an unprecedented force in our modern history and has influenced and shaped new economic and political trends throughout the world with the defeat of the Soviet Union and the establishment of multi-polar world that replaced a bi-polar Soviet versus Western block and has brought new meaning in the function of an internationally oriented market in the perception of today’s political ideology and economics. According to Sanjoy Chakravorty, author of Urban Development in the global periphery: The consequences of economic and ideological Globalization, globalization in reality have two essential elements. First Chakravorty refers to the notion of economic globalization as part of the “integration of global markets”. (Chakravorty 357) According to Chakravorty , “ economic globalization, whether measured by trade or capital flows, is primarily a First World phenomenon; and just as significant, this is increasingly true. “Economic globalization has successfully been achieved in integrating the world through the establishment of an economic symbiosis between different regions and parts of the world. On the other hand, globalization can also been described as an ideological forces that refers to the political ideas that underlie the spread of markets, trade, and democracy.” (Chakravorty 357) Ultimately, these ideological tools manifested in the creation of internationalized institutions such as the World Bank and the International Monetary Fund largely supported via capital flows from the United States and the West. Conditions set by the institutions often insisted on economic and political reforms as an incentive for funding for projects, ultimately influencing democratic changes in an LDC given its underperforming economy. According to Samuel Huntington, a prominent contemporary political scholar and author of The Third Wave of Democratization, “In the 1990s the International Monetary Fund (IIMF) and the World Bank conceivably become much more forceful than they have heretofore been in making political democratization as well as economic liberalization a precondition for economic assistance.”(Huntington 8)