The article attempts a reformulation of globalization theory. We identify ‘flow speak’ and the flattened ontology of the social that goes with it as a major limitation in contemporary globalization theory. Contrary to the prevailing overemphasis on mobility and deterritorialization, we suggest an existential turn that orients future globalization thinking more towards issues of belonging, choice and commitment, and the rhythmicity of social relations. To highlight the processual character of this shift of perspective, we shall draw on the paradigmatic figure (...) of the ‘homecomer’. S/he, in our understanding, embodies the ambivalence between the lure of global options and the need for commitment to lasting bonds. Thus, we do not argue for a post-mortem on globalization theory, but maintain that a deeper understanding of globalization as a ‘way of being in the world’ would require a phenomenologically inclined repositioning of the concept. (shrink)