Globalization is the term used to describe the condition that prevails when communication, people, goods, services, and capital move more freely across borders. Often globalization is the result of technological improvement that facilitates communication and transport and economic liberalization that gives people the freedom to make use of them. It is the most important international phenomenon of the early 21st century, touching almost all aspects of life, politics, and business.

Libertarians have traditionally promoted globalization because of its liberating effects on people's lives. Globalization is an international extension of free markets and open societies. In effect, it is capitalism without borders. In closed societies, people are limited to what is developed locally; they buy locally made products from a local supplier, they work for local employers, ...