Globalization as a material source of norm creation

This paper is concerned with the relationship between globalization and law. Globalization is unders­ tood as a "material source" of law making. There are three fundamental dimensions of globalization: 1. Eco­nomic dimension, 2. Cultural dimension, and 3. Po­litical dimension. The globalizational impact in the cultural dimension is manifested either as a pressu­re towards a greater compatibility of the standard of values ar as a pressure towards a better justification of the remaining standards of values at present. The American way of life is a leading force of the cultural globalization. Therefore a greater influence of the values of efficiency and pragmatism can be expected in culture. The values embodied in the moral system will be penetrating into the system of law. Manifestations of globalization in the economic sphere can be summed up in the following way. Legal systems (especially trade rules) of national states are forced towards a greater mutual compatibility and unification. The world economy has been liberalized. The competition potential of national economies has gained a strategie importance. National legislators will have to pay attention to a better competition potential of their economic players. From the political point of view, we can add that the globalization inspired by economic events leads to the creation of still narrowed associations of states. The demand for forming a supranational sovereign has grown. Some signs suggest that the so-called "style­ making" elements of the Common Law could prevail in the "multi-national system of law" in the future.