Globalization
One index of globalization is the "KOF Index of Globalization", which measures three important dimensions of globalization: economic, social, and political. Another is the A.T. Kearney / Foreign Policy Magazine Globalization Index.
Measurements of economic globalization typically focus on variables such as trade, Foreign Direct Investment (FDI), Gross Domestic Product (GDP), portfolio investment, and income. However, newer indices attempt to measure globalization in more general terms, including variables related to political, social, cultural, and even environmental aspects of globalization.
Theodore Levitt
Though widely credited with coining the term globalization in an article entitled "Globalization of Markets", which appeared in the May–June 1983 issue of Harvard Business Review, he was not the originator of the term. As a NYTimes article notes, the term 'globalization' was in use well before this publication (at least as early as 1944) and had been used by economists as early as 1981. Nonethless, Levitt can be credited with popularizing the term and bringing to a mainstream business audience.