Economic Globalisation
Origins and consequences
Few subjects are as controversial – and poorly understood – as globalisation. While in its broadest sense, economic globalisation is as old as trade itself, the recent financial crisis has amplified the complexity associated with the global interconnectedness of the world’s economies and its ramifications on our livelihoods.
This publication reviews the major turning points in the history of economic integration, and in particular the pace at which it has accelerated since the 1990s. It also considers its impact in four crucial areas, namely employment, development, the environment and financial stability: does globalisation foster development or create inequality? Does it promote or destroy jobs? Is it damaging to the environment or compatible with its preservation? Are we heading towards de-globalisation or can globalisation in fact enable recovery?
Introduction
Economic globalisation is highly controversial – even more so since the recent global economic crisis. “Pro-globalists” and “anti-globalists” (also known as “alter-globalists”) have hotly debated the issue for a good twenty years. Most of this planet’s inhabitants experience some of the considerable benefits and also the tragic downside of globalisation in their daily lives. It is essential to trace the history of this complex phenomenon and the various forms it takes if we want to tackle the challenges it brings in its wake.
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