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Evolutionary Dynamics of Globalization

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  • Naci Canpolat

    (Hacettepe University)

  • Hüseyin Ozel

    (Hacettepe University)

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    Abstract

    The expansion of markets –globalization– was reversed during early 20th century and unfettered markets gave in to the welfare state and central planning. But the markets have been striking back since the early 1980s. Governments are withdrawn from economic activities, and many structural market reforms are implemented. Now the question is: Can the forces that market expansion create again reverse this expansion? This paper seeks an answer to this question by constructing an evolutionary game theoretical framework in which market and “egalitarian” societies appear as evolutionarily stable states and shows that catastrophic events such as the Great Depression can indeed cause switch over between evolutionarily stable states.

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    File URL: http://www.tek.org.tr/dosyalar/Canpolat_Ozel_Evolutionary_Dynamics_of_Globalization.pdf
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    Bibliographic Info

    Paper provided by Turkish Economic Association in its series Working Papers with number 2008/16.

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    Length: 20 pages
    Date of creation: 2008
    Date of revision:
    Handle: RePEc:tek:wpaper:2008/16

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    Related research

    Keywords: globalization; evolutionary game theory; evolutionarily stable states; behavioural strategies;

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    1. Gachter, Simon & Fehr, Ernst, 1999. "Collective action as a social exchange," Journal of Economic Behavior & Organization, Elsevier, vol. 39(4), pages 341-369, July.
    2. Anna Maria Mayda & Kevin H. O’Rourke & Richard Sinnott, 2007. "Risk, Government and Globalization: International Survey Evidence," Trinity Economics Papers, Trinity College Dublin, Department of Economics tep0507, Trinity College Dublin, Department of Economics.
    3. Ann Harrison, 2006. "Globalization and Poverty," NBER Working Papers 12347, National Bureau of Economic Research, Inc.
    4. Fehr, Ernst & Schmidt, Klaus M., 1998. "A Theory of Fairness, Competition and Cooperation," CEPR Discussion Papers 1812, C.E.P.R. Discussion Papers.
    5. Ian M. Dobbs & Ian Molho, 1999. "Evolution and sub-optimal behaviour," Journal of Evolutionary Economics, Springer, Springer, vol. 9(2), pages 187-209.
    6. Alberto Alesina & Roberto Perotti, 1994. "The Welfare State and Competitiveness," NBER Working Papers 4810, National Bureau of Economic Research, Inc.
    7. Kevin H. O'Rourke & Jeffrey G. Williamson, 2000. "When Did Globalization Begin?," NBER Working Papers 7632, National Bureau of Economic Research, Inc.
    8. Timothy Besley & Robin Burgess, 2003. "Halving Global Poverty," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 3-22, Summer.
    9. K. H. O'Rourke, 2001. "Globalization and Inequality: Historical Trends," CEG Working Papers, Trinity College Dublin, Department of Economics 20015, Trinity College Dublin, Department of Economics.
    10. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
    11. Xavier Sala-i-Martin, 2002. "The World Distribution of Income (estimated from Individual Country Distributions)," NBER Working Papers 8933, National Bureau of Economic Research, Inc.
    12. Dani Rodrik, 1997. "Trade, Social Insurance, and the Limits to Globalization," NBER Working Papers 5905, National Bureau of Economic Research, Inc.
    13. Peter H. Lindert & Jeffrey G. Williamson, 2001. "Does Globalization Make the World More Unequal?," NBER Working Papers 8228, National Bureau of Economic Research, Inc.
    14. Bowles, Samuel, 1992. "Is income security possible in a capitalist economy? : An agency-theoretic analysis of an unconditional income grant," European Journal of Political Economy, Elsevier, vol. 8(4), pages 557-578, December.
    15. Akerlof, George A, 1980. "A Theory of Social Custom, of Which Unemployment May be One Consequence," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 94(4), pages 749-75, June.
    16. Kenneth Scheve & Matthew Slaughter, 2002. "Economic Insecurity and the Globalization of Production," NBER Working Papers 9339, National Bureau of Economic Research, Inc.
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