Abstract
In this chapter, I explore the concepts of democracy and globalization, and the relationship between the two. The chapter exposes the false assumptions about democracy and globalization, particularly the notion that presents globalization as the possible end-state of human development. Globalization’s inherent contradictions—which led to the global financial crisis and economic downturn of the late 2000s—reinforce this truth. The attendant resurgence of economic protectionism by advanced capitalist states after the crisis only makes the position stronger. Thus, it is imperative to explore the means in which the globalization of neoliberalism and the activities of global forces have engendered contradictions in their attempts to “democratize” the international system. In conclusion, globalization has failed to enhance the socio-economic development of the Nigerian state and society.
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Notes
- 1.
See Cammack (1998, p. 225) for more understanding of liberal democracy.
- 2.
For more information, see http://www.sdinet.org
- 3.
For more information on this, see Li and Reuveny (2003, pp. 30–39).
- 4.
This process of allowing the economy to fluctuate is referred to as “laissez-faire”. This is a French expression meaning “let it be” which allows industries to be free from state involvement in restrictions such as taxes and state monopolies. For more information, see Crockett (2011).
- 5.
An autocrat is a leader exercising absolute power on behalf of the government.
- 6.
The Nigerian Labour Congress is an umbrella organization of all employees in Nigeria . Its establishment pre-dated Nigerian independence in 1960. The Apena Cemetery Declaration of 1974 remains the most direct attempt to establish a unified union for the Nigerian employee. This brought together the Nigeria Workers’ Congress (NWC), United Labour Congress (ULC), Nigeria Trade Union Congress (NTUC), and Labour Unity Front (LUF), which signed a document to form a single central organization. The declaration was premised upon the Trade Union Decree of 1973 which allowed for union mergers and federations. The merger was put into effect on the 18th of December, 1975 at Lagos City Hall. According to Onuoha, the main mission of the congress is to protect, defend and promote the rights, privileges, and the interests of all trade associations and unions affiliated to the congress, their individual members and the working class in general; see Onuoha, Frank (2013) “Nigeria Labour Congress: A brief History”; available online at http://allnigeriahistory.blogspot.com/2013/07/nigeria-labour-congress-brief-history.html#!/2013/07/nigeria-labour-congress-brief-history.html
- 7.
Proponents of the “efficiency thesis”, otherwise known as the “globalization thesis” hold that a greater exposure to trade puts national economies under intense competitive pressures. These efficiency-based perspectives predict that globalization may contribute to limited government, reduced government provision of social services, reduced government revenue-raising capacity, and lower levels of unionization. For more understanding, see Yi (2011, p. 476).
- 8.
Adam Smith used this expression to describe the natural force that guides free market capitalism through competition for scarce resources. In a free market, each individual would try to maximize self-interest, and the interaction of market participants, leading to exchange of goods and services, enables each to be better off than when simply producing for himself/herself. He explains that in a free market, no regulation of any type would be needed to ensure that the mutually beneficial exchange of goods and services took place, acting under the assumption that this ‘invisible hand’ would guide market participants to trade in the most mutually beneficial manner. For better understanding, see http://www.investorwords.com/2633/invisible_hand.html#ixzz2fbAX3QrV
- 9.
The world experienced an economic depression in countries like the United States, Britain, Germany, etc. This re-enacted mercantilism; states embarking on economic nationalism by injecting funds to the private sector.
- 10.
The Obama administration in the United States had to fund many banks, while the United Kingdom financially rescued private company’s during the recent global economic crisis. This is a digression from the tenets of liberalization and capitalism , and “limited government” being promoted in Nigeria.
- 11.
The “Arab Spring” that resulted in regime change from a dictatorial government in Libya and Egypt to a more inclusive system of government represented one of the ‘triumphs’ of liberal democracy.
- 12.
UNDP in 2007 released the following as indices of sustenance of democracy; popular participation, governmental legitimacy and acceptance, promotion of equity and equality, promotion of gender balance, observation of rule of law, regulation rather than controlling governance , service oriented governance, and ability to define and take ownership of national solution. Globalization has not actually enhanced the attainment of some these values, like the lack of states’ sovereignty in the economy.
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Akinola, A.O. (2018). Globalization and Democratization Nexus. In: Globalization, Democracy and Oil Sector Reform in Nigeria. African Histories and Modernities. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-70184-4_2
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