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This work provides a comprehensive discussion of the nature and impact of globalization in current times. It offers an analysis and critique of the major theories of the world system, whilst also developing an original position of its own through a reworking of structuralist and institutionalist analysis. A feature of the author's analysis is his consideration of several different dimensions along which globalizing tendencies have emerged. In addition to economic interdependence, the book concentrates upon political and cultural globalization. It emphasizes the key significance of modern communication systems in the formation and intensification of a "world society" that shows features of both chaos and order.