In an attempt to reconsider the current position of the notion of globalization, the paper takes two different directions in observing globalization and its relation to culture and literature, from a literary and then an economic aspect. The often heard postulate that contemporary literature has assumed the features of a commodity taking part in market competition is tested by placing literature in some of the main globalization strategies from the point of view of economists. The inter-relation of literature and globalization determined by syntagms such as globalization of literature, global literature and literature of globalization is a globalization-fragmentary response to a complex issue of their inter-relations, which is by no means exhausted in this paper, just as neither globalization nor literature gives an impression of waning in transformation.