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It has taken off as a concept in the wake of the collapse of the Soviet Union and of socialism as a viable alternate form of economic organisation.
Try this: Globalisation is the rapid increase in cross-border economic, social, technological exchange under conditions of capitalism.
Simon Reich also explores this question in a working paper for the Helen Kellogg Institute for International Studies at the University of Notre Dame
"What is globalization? Four Possible Answers", Working Paper #261 - December 1998 - that is downloadable at www.nd.edu/~kellogg/WPS/261.pdf
It attempts to characterize globalization, and its effects on poverty, the environment, gender, culture, and political structure and dynamics...
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