Globalisation, both as an ideology and as a process, has become the dominant political, economic and cultural force in the 21st century (Steger, 2002, 6). As a social and economic concept, globalization has its roots in neoliberalism which advocates: the primacy of economic growth, free trade to stimulate growth, a free market, individual choice, the reduction of government regulation and global social development based on a Western model ( Steger, 2002, 9). While globalization is not a new concept, technological advances in recent decades have enabled truly global production, transportation and communication for the first time in human history. Nowadays, multinational corporations can “produce anything anywhere on the planet and sell anything anywhere on the planet” (Keeling, 2002). While the benefits of human social and economic interactions are difficult to ignore, globalization and its agents also contribute to the depolarization of society, the weakening of democracy, and the denationalization of the globe. This article will evaluate the various political and economic factors of globalization from a socialist perspective. Globalization creates and amplifies depolarization at regional, national and global levels. First, the main criticism of globalization concerns its role in creating and widening gaps between social classes. This “development gap” is characterized by a greater concentration of national income in the hands of fewer people (Keeling, 2002). When such a social hierarchy exists, a small percentage of individuals or groups have total control over production, finances, and information. Therefore, the workforce is not only exploited for the economic benefit of a country and a select few modern oligarchs, ...... middle of paper ......n Ltd., 2009.Falk, Richard. Predatory globalization: a critique. Polity Press, 1999.Keeling, David J. Latin American Development and the Globalization Imperative: New Directions, Family Crisis. 2002. November 12, 2011.Mujtaba, Syed Ali. “Nationalism in the Age of Globalization: An Indian Experience.” January 21, 2008. Indian Muslims. November 12, 2011 .Steger, Manfred D. Globalism: the new ideology of the market. Rowman & Littlefield Publishers, 2002.Saul, Michael. Many Americans prefer socialism to capitalism, according to a new poll. April 9, 2009. November 12, 2011 .Von Camp, Christian. "Globalization and its effects on nationalism." 2008.