Tag Archives: Globalization

Dani Rodrik has a nice interview to ProMarket, the blog of the Stigler Center at the University of Chicago Booth School of Business. Rodrik’s views are dissenting but within the conventional DC wisdom/New Consensus. For example, he said as recently as last year that free trade is fine as long as losers as compensated, which is far from accurate, as free trade leads to loser regions as well. Still he has better views than neoliberals. In this interview Rodrik is asked about the...

Globalization has led to a rise in global income inequality, not a reduction.Income doesn’t trickle down.Policy – not trade or technology – is most responsible for inequality. Demand lagging capability to supply due to hoarding at the top end. Contrary to the assumptions of neoclassical economics, distribution counts. This should be obvious since in a capitalistic system distribution is through markets where goods are rationed by price and ability to pay. But the "laws of economics" seem to...

The reaction of the Western media is a subset of the reaction of Western governments losing their monopoly as a consequence of globalization. Global Inequality“Fake news”: reaction to the end of the monopoly on the narrative Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for...

Climate change, terrorism and the backlash against globalization are the three most significant challenges to civilization as we know it, Indian Prime Minister Narendra Modi said at the World Economic Forum’s Annual Meeting 2018 in Davos, Switzerland. These are all conditions either caused by or strongly influenced by neoliberalism, which entails neo-imperialism and neocolonialism, as well as "colonizing" the vast majority of the populations of the developed countries that heretofore had...

This is a longish and heavily intellectual analysis in the dialectical mode. However, it is a significant strand in thinking about geopolitics and geostrategy from a long term historical perspective and from a particular point of view.Worth a look if you are into this sort of thing and think Dugin has something to say.It's not necessary to agree with people to make them worth reading. A lot of people that one may not agree with exert an influence.Dugin's influence over Putin is greatly...

Neoliberalism arrived with globalization or else globalization arrived with neoliberalism; that is how the Great Regression began. [1] In the 1970s, the capital of the rebuilt industrial nations started to work its way out of the national servitude in which it had been forced to spend the decades following 1945. [2] The time had come to take leave of the tight labour markets, stagnant productivity, falling profits and the increasingly ambitious demands of trade unions under a mature,...

The euphoria around international trade and the general consensus regarding capitalism’s inevitable sustenance among countries of the Global South is at least partly due to the absence of an alternative after the collapse of the Soviet Union. The politics of capitalism, with its expansionary dynamics, has assumed a truly “global” avatar by aggressively pursuing a neoliberal globalization agenda. Thus, we see much hype around the numerous trade treaties that governments around the world...

Does a country like Germany actually need a real government and a proper parliament? For global business, at least, the answer is no. Transnational structures have long taken over the tasks of parliaments and governments, telling them what they should do. Politicians, who are officially responsible, are no more than discussion partners and implementers.This is the situation described by commentator Fritz R. Glunk in his new book, "Shadow Powers: How transnational networks determine the...

The consensus forecast of just about everybody – the IMF, the OECD, the Bank of Canada, the Canadian banks – is that Canada will share in a global recovery from the stagnation which followed the financial crisis of a decade ago. All of the major economies – the US, the EU, China, Japan – are growing; business investment is finally on the upswing from depressed levels; world trade is on the rise again; and fiscal austerity has more or less run its course. Central bankers, we are told, can be...

Third way evangelists presented globalisation as inevitable and advantageous to all. In reality, it is neither, and the liberal order is paying the price.... The fundamental thing to grasp is that globalisation is—and always was—the product of human agency; it can be shaped and reshaped, for good or ill. The great problem with Blair’s forceful affirmation of globalisation back in 2005 was the presumption that it is essentially one thing, immutable to the way that our societies must...