Tag Archives: Globalization

The last forty years have witnessed a third wave of globalization which can be termed “neoliberal globalization”. Now, there are indications that the era of neoliberal globalization might be drawing to a close, as evidenced by the trade war between the US and China. This paper argues the fracturing of neoliberal globalization reflects the growing […]

Book Review Adam Tooze. Crashed: How a Decade of Financial Crises Changed the World. Viking. New York. 2018 The global economic crisis is now more than a decade old, and is far from definitively behind us. Indeed, many fear, with good reason, that the recent, uneven and lethargic global recovery may soon come to an end, and that the next crisis of global capitalism could be even worse than that of 2008. The financial crisis and resulting crisis of the real global economy triggered by the...

Titled Declarations of Dependence: Money, Aesthetics, and the Politics of Care (University of Nebraska Press, July 2018) my recent book develops the insights of Modern Monetary Theory (MMT) for critical theory and aesthetics. While the modern Liberal imagination treats money as a finite, private and decentralized exchange instrument that seems incapable of serving all, MMT’s state or “chartalist” approach to political economy insists that money is an inalienable public utility that can...

From the Real News Network: [embedded content] This Real News segment with Professor Leo Panitch is worth watching for those that miss Obama (perhaps should be seen together with the reading of this piece on Mike Pence, for those that think that he would be much better than the orange one). At any rate, besides the fact that Obama was not even for more than a very moderate reform of the system, and that he still justifies globalization in neoliberal terms, it seems to me that Panitch (and...

 By Thomas Palley (Guest blogger)The conventional wisdom is there have been two globalizations in the modern era. The first began around 1870 and ended in 1914. The second began in 1945 and is still underway. This paper challenges that view and argues there have been three globalizations, not two. The first half of the paper provides empirical evidence for the three globalizations hypothesis. The second half discusses its analytical implications. The Victorian first globalization and...

By Thomas Palley (Guest blogger)The deepening of economic globalization appears to have ground to a halt and the process may even unravel a little. The sudden stop has surprised economists, whose belief in globalization has strong parallels with Fukuyama’s (1989) flawed end of history hypothesis. The paper presents a simple analytic model that shows how economic globalization has triggered political and geopolitical contradictions. For the system to work, politics within countries and...

The conventional wisdom is there have been two globalizations in the modern era. The first began around 1870 and ended in 1914. The second began in 1945 and is still underway. This paper challenges that view and argues there have been three globalizations, not two. The first half of the paper provides empirical evidence for [...]

The deepening of economic globalization appears to have ground to a halt and the process may even unravel a little. The sudden stop has surprised economists, whose belief in globalization has strong parallels with Fukuyama’s (1989) flawed end of history hypothesis. The paper presents a simple analytic model that shows how economic globalization has triggered [...]

Updated This past weekend, I was in North Adams, Ma.  We did some exploring of the area and came across a company started in 1837 that still exists today in Buckland.   It no longer produces there, as it has moved to Westfield, Ma.  It’s only move in 178 years.   However, it has not survived the trend of Capital Investment companies.  Though, their being purchased does not appear to be a bad thing based on their website. This picture I took is why I am...

Knowledge flow.It is important to note that knowledge is a free good. The arrangement of words in books can be copyrighted, but not the knowledge they convey.However, the application of knowledge can be limited by making it "proprietary." In the past, many processes have been kept secret. e.g., transmitted in families. In contemporary times, processes for applying knowledge may be fenced in, at least for a time, with intellectual rights to processes such as patents.The IMF looks at the...