Abstract
The current phase of the world economy — globalization — is characterized by both significant continuities with the preceding periods and radically new arrangements. The latter becomes particularly evident in the impact of globalization on the geography of economic activity and on the organization of political power. There is an incipient unbundling of the exclusive authority over territory we have long associated with the nation-state. The most strategic instantiation of this unbundling is probably the global city, which operates as a partly denationalized platform for global capital. At a different level of complexity, the transnational corporation and global markets in finance can also be seen as such instantiations through their cross-border activities and the new semi-private transnational legal regimes which frame these activities. Sovereignty, the most complex form of that national authority, is also being unbundled by these economic and noneconomic practices, and by new legal regimes.
Text of chapter presented at Syracuse University, ‘Globalization and the margins’, symposium.
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© 2002 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Sassen, S. (2002). Globalization and the Formation of Claims. In: Grant, R., Short, J.R. (eds) Globalization and the Margins. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781403918482_2
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DOI: https://doi.org/10.1057/9781403918482_2
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