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Globalization and Values

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John Whalley ()

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Abstract

This paper discusses a central element in globalization debate little addressed by economists, namely the interactions at global, national, and community levels between globalization and societally based values. Social values refer to wider notions of collective identity: religious values, attitudes towards materialism, moral beliefs, and a sense of collective awareness and are a broader and more encompassing concept than social capital discussed in recent economics and sociology literature. Social capital relates to trust, honesty and the social fabric of accepted norms central to the successful implementation of individual optimizing decisions, and denotes a communal asset reflecting strength of joint collective commitment whose amount can be increased or improved upon through investment of time and resources. Social values are much discussed in sociological literature going back to Comte, Durkheim, Parsons, and others. The issues taken up here are how different social values might interact and change as societies and their economies integrate (globalize). Processes of value competition, displacement, joint assimilation occur naturally to economists, but seem little studied by sociologists who seemingly place less stress on analytical comparative statics. Scenarios for how values can interact under globalization are discussed in the text.

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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number CESifo Working Paper No. 1441.

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Date of creation: 2005
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Handle: RePEc:ces:ceswps:_1441

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Find related papers by JEL classification:
F00 - International Economics - - General - - - General
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
Z10 - Other Special Topics - - Cultural Economics - - - General
Z13 - Other Special Topics - - Cultural Economics - - - Social Norms and Social Capital; Social Networks Economic Anthropology

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  1. Kanbur, Ravi & Keen, Michael, 1993. "Jeux Sans Frontieres: Tax Competition and Tax Coordination When Countries Differ in Size," American Economic Review, American Economic Association, vol. 83(4), pages 877-92, September. [Downloadable!] (restricted)
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  2. Burbidge, John B. & James A. DePater & Gordon M. Meyers & Abhijit Sengupta, 1997. "A Coalition-Formation Approach to Equilibrium Federations and Trading Blocs," American Economic Review, American Economic Association, vol. 87(5), pages 940-56, December. [Downloadable!] (restricted)
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  3. Kyle Bagwell & Robert W. Staiger, 1999. "An Economic Theory of GATT," American Economic Review, American Economic Association, vol. 89(1), pages 215-248, March. [Downloadable!] (restricted)
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  4. North, Douglass C, 1991. "Institutions," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 97-112, Winter. [Downloadable!] (restricted)
  5. Alan V. Deardorff, 2003. "What Might Globalisation's Critics Believe?," The World Economy, Blackwell Publishing, vol. 26(5), pages 639-658, 05. [Downloadable!] (restricted)
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  6. Segerstrom, Paul, 2003. "Naomi Klein and the Anti-Globalization Movement," CEPR Discussion Papers 4141, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  7. Zodrow, George R. & Mieszkowski, Peter, 1986. "Pigou, Tiebout, property taxation, and the underprovision of local public goods," Journal of Urban Economics, Elsevier, vol. 19(3), pages 356-370, May. [Downloadable!] (restricted)
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  1. Nirvikar Singh, 2004. "Transaction Costs, Information Technology and Development," Santa Cruz Center for International Economics, Working Paper Series 1045, Center for International Economics, UC Santa Cruz. [Downloadable!]
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  2. Michael Artis & Toshihiro Okubo, 2008. "Globalization and Business Cycle Transmission," Discussion Paper Series 232, Research Institute for Economics & Business Administration, Kobe University. [Downloadable!]
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  3. Nicolas Hérault, 2005. "A Micro-Macro Model for South Africa: Building and Linking a Microsimulation Model to a CGE Model," Melbourne Institute Working Paper Series wp2005n16, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne. [Downloadable!]
  4. Nicolas Hérault, 2004. "Un modèle d'équilibre général calculable (MEGC) pour évaluer les effets de l'ouverture au commerce international : le cas de l'Afrique du Sud," Documents de travail 102, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV. [Downloadable!]
  5. Raymond Riezman & John Whalley & Shunming Zhang, 2005. "Metrics Capturing the Degree to which Individual Economies are Globalized," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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