Globalization and cosmopolitan democracy

Globalization is a much contested word. On the one hand, some claim we live in a completely global order—an integrated world economy and society. On the other hand, some question the extent of globalization and see the national state as robust and integrated as it ever was. Both these views are misleading. The processes of globalization have been fundamentally changing the world in which we live. This is not entirely new since societies have always been somewhat connected. But now, we're experiencing a more intensive intercon‐nectedness among different peoples than ever before. The world economy has been rapidly expanding, world trade has grown enormously, and the world's financial systems are now highly integrated. Over a trillion dollars changes hands daily in the foreign exchange markets. Multinational companies now dominate national and international economic transactions. And in environmental politics, in human rights regimes, in international law and elsewhere, a denser pattern of interconnectedness among the world's peoples also prevails. Although such developments fall far short of creating an integrated world order, they have significant consequences.