"Globalization Theory": Yesterday's Fad or More Lively than Ever?

Abstract

This article argues that while globalization theory is far from being past its most productive phase, as some of its critics claim, it does exhibit a number of shortcomings, particularly when it comes to identifying a clear point of reference for what is taken to be globalized and applying theoretical concepts developed in the analysis of national societies to a global level. This article argues that globalization theory stands on solid ground in that globalization theory has developed four strands of research, which are fairly well developed and which distinguish it as a separate field of inquiry, these four strands being the understanding of globalization as inherently varied globalization, global governance research, global history, and global/world society research. It argues that in order to redress some of the problems of globalization theory, it is necessary to build on these four strands and merge them with the traditional sociological concepts of functional differentiation and rationalization as well as with insights from complexity theories.