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The Two Faces of Globalization: Against Globalization as We Know It

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  • Milanovic, Branko

Abstract

The paper shows that the current view of globalization as an automatic and benign force is flawed: it focuses on only one, positive, face of globalization while entirely neglecting a malignant one. The two key historical episodes that are adduced by the supporters of the “globalization as it is” (the Halcyon days of the 1870-1913, and the record of the last two decades of development) are shown to be misinterpreted. The “Halcyon days” were never Halcyon for those who were “globalized” through colonization since colonial constraints prevented them from industrializing. The record of the last two decades (1978- 1998) is shown to be almost uniformly worse than that of the previous two (1960-78).

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Bibliographic Info

Article provided by Elsevier in its journal World Development.

Volume (Year): 31 (2003)
Issue (Month): 4 (April)
Pages: 667-683

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Handle: RePEc:eee:wdevel:v:31:y:2003:i:4:p:667-683

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Web page: http://www.elsevier.com/locate/worlddev

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  1. David Dollar & Aart Kraay, 2004. "Trade, Growth, and Poverty," Economic Journal, Royal Economic Society, vol. 114(493), pages F22-F49, 02.
  2. Steve Dowrick & Muhammad Akmal, 2005. "Contradictory Trends In Global Income Inequality: A Tale Of Two Biases ," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(2), pages 201-229, 06.
  3. Xavier Sala-i-Martin, 2001. "The disturbing 'rise' of global income inequality," Economics Working Papers 616, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2002.
  4. Dollar, David & Kraay, Aart, 2002. " Growth Is Good for the Poor," Journal of Economic Growth, Springer, vol. 7(3), pages 195-225, September.
  5. Peter H. Lindert & Jeffrey G. Williamson, 2003. "Does Globalization Make the World More Unequal?," NBER Chapters, in: Globalization in Historical Perspective, pages 227-276 National Bureau of Economic Research, Inc.
  6. Kanbur, Ravi, 2001. "Obnoxious Markets," Working Papers 127655, Cornell University, Department of Applied Economics and Management.
  7. Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, January.
  8. Paul BAIROCH & Richard KOZUL-WRIGHT, 1996. "Globalization Myths: Some Historical Reflections On Integration, Industrialization And Growth In The World Economy," UNCTAD Discussion Papers 113, United Nations Conference on Trade and Development.
  9. Bairoch, Paul, 1989. "The paradoxes of economic history: Economic laws and history," European Economic Review, Elsevier, vol. 33(2-3), pages 225-249, March.
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