Tag: Globalization

How Globalization Came to the Brink of Collapse

August 12, 2021

Many of the advantages of economic globalization, such as increased connectivity and interdependence, also give rise to risks, such as the transmission of viruses and lack of self-sufficiency in producing essential items. Once economic globalization is seen as a complex system that involves great benefits as well as systemic risks, it is possible to think more clearly about options for managing those risks to protect against collapse. These options can include reforms that, for instance, reduce concentrated reliance on particular nodes within the system or increase redundancy of essential supplies in order to foster greater resilience. 

https://www.barrons.com/articles/how-globalization-came-to-the-brink-of-collapse-51585865909

Globalisation: time to look at historic mistakes to plot the future

August 11, 2021

Trade deals were hammered out in secret by multinationals at the expense of workers and citizens. Benefits must be shared if the global economy is to work

The US basically wrote the rules and created the institutions of globalisation. In some of these institutions – for example, the International Monetary Fund – the US still has veto power, despite America’s diminished role in the global economy (a role which Trump seems determined to diminish still further).

https://www.theguardian.com/business/2017/dec/05/globalisation-time-look-at-past-plot-the-future-joseph-stiglitz

‘Against supranationalism: in defence of national sovereignty (and Brexit)’

August 11, 2021

The repercussions of the post-national ideology that (re-)emerged in the 1980s, and then became all-pervasive in the 1990s and 2000s, are still being felt today. Conventional wisdom holds that that globalisation and the internationalisation of finance has ended the era of nation-states and their capacity to pursue policies that are not in accord with the diktats of global capital. But does the evidence support the assertion that national sovereignty, which so often throughout the twentieth century has been wrongly proclaimed dead, has truly reached the end of its days?

https://plutopress.wordpress.com/2017/09/22/against-supranationalism-in-defence-of-national-sovereignty-and-brexit-by-bill-mitchell-and-thomas-fazi/?fbclid=IwAR0AF6flPugXpm35RrT1CQOaN8zKwINDBhOlr48MRvGhb3ZGIGu9OnbetXY