We began the semester with a history of global capitalism, to show that the global market system we are now in has been a recent phenomenon, brought about by the downfall of Communism and the decision of free world countries, both Western and non-Western, to relax government regulation. We also introduced new opportunities and new problems in this new global era.

In the new global era, we are introduced to many new opportunities, including:

• freer flow of goods and people across borders.
• interregional cooperation across state lines.
• an unprecedented number of countries becoming democracies.

We are also faced with a whole host of problems, many of which new:

• antagonism toward Western consumer products in non-Western countries and a reassertion of tribal/local identities.
• Fragmentation of states into smaller and smaller units based on claims of national identities.
• modern terrorism that is not confined to individual states.
• nuclear proliferation because of the disintegration of the former Soviet Union and small states' assertion of their power versus Western hegemonic power, especially that of the U.S.
• Environmental degradation and mass poverty.
• problems with the new democracies.

Many of the readings are connected. For instance:

• Many authors have offered solutions to the problem of Western hegemony and assertion of native identities, cultural or religious: Slaughter suggests international governance, which resembles Barber's idea of a confederation of states.
• Both Berger and Barber discuss the emergence of a global culture.
• Barber, Kaplan, Ajami, Sakakibara, Bowen, all come up with visions of nationalism and cultural identities.
• Ohmae, Ceglowski, Slaughter, discuss the role of the state and status of state power and national boundaries.

Many of the themes we cover this semester are also connected, such as:

• Poverty, the environment, and democracy:

Globalization does not necessarily eliminate poverty. States deteriorate due to lack of an infrastructure, and withdrawal of support from Western countries that once was there to fight Communism in the Cold War. Democracies in these poverty stricken countries often resort to warfare to bolster popular support and acquire resources through plundering either a different regional/ethnic group of their own country or foreign countries.

On the other hand, poverty drives the poor to abuse the environment more, through slash and burn agricultural methods and the abuse of forests for fuel.

The existence of poverty prevents a good implementation of democracy, or the protection of the environment.

• Free market, democracy, and the environment

  A market economy will eventually benefit from a democratic environment. But in the short run, it often does not call for a real democracy. It seeks a secure operating environment, which is often provided by autocratic governments. A free market economy does not necessarily bring about democracy.

  A free market economy does not necessarily bring about a cleaner environment. In recent years, a refreshing scene is many companies voluntarily regulate their pollution emission, such as in the example of the Chicago Climate Exchange, and the talk of its joining forces with the New York Climate Exchange.

  A free market is not a precondition for democracy or a cleaner environment, but Sachs calls on private companies to voluntarily work for a cleaner environment, for their long term rather than short term gain.
  

Relevance to today:

• Many of our readings are about the newly risen cultural and religious identities around the world. While all our readings show that culture and religion are not the only paths to local identities, no one can deny their relevance in identity formation. The question remains: where can cultural identities be compromised, and where does one hold the line?
• Issue of nuclear proliferation: should Iran receive economic sanctions for insisting on building their nuclear programs?
• What shall we do about the environment? Are we willing to pay higher prices to finance the cleaning up of the environment and for alternative energy sources?