Communications are also of significance in considering the ‘nationalization’ of different states. As communications enhanced (which before electronic communication meant, in fact, how fast people could travel), states had much more practical unity. This was mostly true of large states such as Canada and the United States where the railroad meant that people could travel between the major population centres, and numerous of the minor population centres, within two or three days as opposed to weeks. Markets then became national as an instant precursor to becoming international. These changes can all be measured parts of the same process.


On this view, globalization is a trend which has been going on for centuries, which is undeniably continuing and might be accelerating. In this sense, the present period is not in itself novel. However, it is argued that there is more to globalization than this. For him globalization is not just communication on a global scale but deterritorialisation or superterritorialisation of numerous activities which formerly were tied to some terrain, not as a matter of an accident but as a matter of necessity.

Thus, there is efficiently a global stock market. There is twenty-four hours trading in the world as a complete and traders in, say, the Tokyo markets keep a close eye on the London market on a real-time basis. There are differences. Tokyo is not just a postal (or e-mail) address of any implication but these differences are minor compared with the similarities or with the distinctions that existed even thirty years ago. It would most probably be possible to place all the worlds’ stock markets in a single place say on a South Sea island and it would make very little difference. It would perhaps make even less difference if this were to be done in twenty years’ time. (It might be a development. The traders might be so tempted by the sun and the good life that they would spend less time trading. Thus, trade less anxiously, and calm the often totally needless fluctuations in the various financial markets.) On the other hand, certainly, all the traders could work from home. This is the point. The actual geographical location is trivial.



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