Globalization: A concept which admits of many different meanings but whose dominant meaning is globalization of capitalism.
The process whereby formerly local and national societies are drawn into more extensive and intensive connections with each other.
Source: ‘What is Good? What is Bad? The Value of All Values across Time, Place and Theories’ by John McMurtry, Philosophy and World Problems, Volume I-III, UNESCO in partnership with Encyclopedia of Life Support Systems: Oxford, 2004-11.