chapter  11
Globalisation and the theory of world systems
Pages 13

Political and economic interconnectedness in the world is nothing new, but in the twenty-first century it has reached new heights, reflecting the unprecedented technological advances in recent years. New developments in information technology and transport, allied to cheap and abundant sources of energy, have, for practical purposes, made the world a smaller place and forced societies at all levels to reassess their images of themselves and how they function (Harvey, 1989). The time-space compression, or the reduction in the barriers of physical distance by the introduction of ever faster means of communication and travel, has led to what Thrift (1995) has described as a hyperactive world, where the sheer volume and speed of transactions across the globe, and across space, has created a totally new political and economic landscape.