- Colin Hay
This chapter examines the existing debate on the extent and nature of globalization and its implications for contemporary International Relations theory. It first considers the stakes involved in the globalization debate for a range of core theoretical perspectives in IR. It shows how the literature on globalization has developed over time, revealing how the nature of the debate has changed, and illustrates this both theoretically and empirically with a case study of the impact of globalization on the development of the welfare state before and since the global financial crisis. The chapter also considers the empirical case against the globalization thesis, what a competition state is, and how it might confer a competitive advantage upon a national economy in an era of globalization. The chapter suggests that the current level of interdependence within the international system, although considerable, is not easily reconciled with the stronger variants of the globalization thesis.