GLOBALZN 1A03 Lecture Notes - Lecture 10: Dutch East India Company, Washington Consensus, Deglobalization
27 Oct 2018
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Document Summary
Arguably strongest driver of the globalizing processes: Economic interconnections often come before other types. More advanced than other aspects of globalization. Borders lowered: money > goods > people. Growth = prosperity for all = world peace. Driven by ideology of neoliberalism -> global capitalism. Is now more intense than ever - but certainly not new! Ha been part of human life for thousands of years Dates and threshold of globalization (time and criterion) Hudson"s bay co. (1670) (re-) forging a globalized economy. European economies highly integrated; ended by wwi. Protectionism - de-globalization of economies - war. Free trade, rise of tncs, deregulated finance, etc. Some similarities to past waves - but more intense. Freer markets; low taxes; lower trade & capital barriers; welfare retrenchment; privatization; deregulation (etc. ) Evidence that consensus is breaking down post-2008. Powerful international economic orgs (ieos), promote it. Critics - harms the poor, help the rich. Race to the bottom in labour standards & wages.
