Waltz: Globalization and Governance

Waltz, K., 1999. Globalization and Governance. PS: Political Science and Politics, 32(4), 693-700.

Waltz begins by highlighting the “fad” of globalization and the literature surrounding it, specifically that of Friedman and the “electric herd”. He goes on to show that this era of globalization is not substantively different form earlier eras of globalization, and that there are a number of “fads” that emerge in different decades, but that quickly die away.

“In a system of balanced states, the domination of one or some of them is prevented by the reaction of others acting as counterweights…Since the end of the Cold War, the United States has been alone in the world; no state or combination of states provides an effective counterweight…The present condition of international politics is unnatural. Both the predominance of America and, one may hope, the militarization of international affairs will diminish with time. Many globalizers believe that the world is increasingly ruled by markets. Looking at the state among states leads to a different conclusion. The main difference between international politics now and earlier is not found in the increased interdependence of states but in their growing inequality. With the end of bipolarity, the distribution of capabilities across states has become extremely lopsided. Rather than elevating economic forces and depressing political ones, the inequalities of international politics enhance the political role of one country. Politics, as usual, prevails over economics” (699-700).