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The Two Faces Of Globalization: Against Globalization As We Know It

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  • Branko Milanovic

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

Paper provided by EconWPA in its series Development and Comp Systems with number 0303007.

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Length: 43 pages
Date of creation: 29 Mar 2003
Date of revision:
Handle: RePEc:wpa:wuwpdc:0303007

Note: Type of Document - Word; prepared on IBM PC ; to print on PostScript; pages: 43; figures: included
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Web page: http://128.118.178.162

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Keywords: globalization; world; growth; development theory; convergence;

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  1. Dollar, David & Kraay, Aart, 2001. "Growth is good for the poor," Policy Research Working Paper Series 2587, The World Bank.
  2. Bairoch, Paul, 1989. "The paradoxes of economic history: Economic laws and history," European Economic Review, Elsevier, vol. 33(2-3), pages 225-249, March.
  3. Kanbur, Ravi, 2001. "Obnoxious Markets," Working Papers 127655, Cornell University, Department of Applied Economics and Management.
  4. 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.
  5. Xavier Sala-i-Martin, 2002. "The Disturbing "Rise" of Global Income Inequality," NBER Working Papers 8904, National Bureau of Economic Research, Inc.
  6. 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.
  7. Dollar, David & Kraay, Aart, 2001. "Trade, growth, and poverty," Policy Research Working Paper Series 2615, The World Bank.
  8. 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.
  9. 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.
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