State–Market Interface and Globalisation

Published date01 September 2022
Date01 September 2022
Subject MatterNotes
State–Market Interface
and Globalisation
Rukmini Bhattacharjee1
Globalisation has unleashed strong and prominent impact on the State and its
sovereign identity. The market evolved starkly in response to the forces of globali-
sation, and the State incrementally had to make structural adjustments to t into
the altered framework to retain its legitimate identity. The changes within the ter-
ritorial boundaries of the State instilled subtle and permanent characteristics to the
state–market relations across the global economies. India is a classic case study to
understand the continuous interactions of the State and the market (Das, 2008).
In the contemporary discourse on the State, sovereignty has attained almost
universal usage. In the closing decades of the 15th century, Europe comprised
more or less 500 independent political units which were in a state of decline. This
was accompanied by an emergence of a new set of social and economic conditions
which increasingly characterised expanding trade. The emergent manufacturing
class gained strength and was supported increasingly by the centralised
monarchies. This brought into effect other changes that were in the form of
competent civil servants and hired armies, and there was imposition of royal
taxes. The obedience of the individual to the overload and allegiance to the village
got replaced by political obligation to the monarchical authority. This was
consequently marked by a decline in the authority of the Church which paved the
way for secular absolutism. It was closely associated by the Westphalian state
system with centralised administration and a monopoly over the legitimate use of
violence. The new form of political control, relocation of population and
reorganisation of territory promoted the expansion and growth of trade. This new
form of the State was based on a notion of sovereignty that redened the idea of
private property. The idea of private property came to be recognised as the right
to exclude others from the possession of commodity, that is, land, labour or
capital. These developments facilitated the growth of absolutist states with
absolute sovereignty with a strong spree of extending sovereignty beyond
territorial boundary resulting in colonial expansion (Menon, 2008).
Indian Journal of Public
68(3) 486–490, 2022
© 2022 IIPA
Reprints and permissions:
DOI: 10.1177/00195561221090771
1 Amity University Kolkata, West Bengal, India.
Corresponding author:
Rukmini Bhattacharjee, 3/26 R.K.Chatterjee Road, Kolkata-700042, West Bengal, India.

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT