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The Global Economy--Myths and Realities: Review Article

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  • Perraton, Jonathan

Abstract

Hirst and Thompson's Globalization in Question is the key text questioning claims of economic globalisation. This review of its revised second edition examines its main claims: that contemporary levels of international integration fall short of the Gold Standard period; genuinely global companies remain exceptional; capital mobility is not shifting economic activity to developing countries wholesale; international economic activity is primarily regional rather than global; and that international economic activity is sanctioned by nation states and remains subject to their political power. This review argues that, while their evidence provides a useful corrective to extreme globalisation views, focusing on this view understates changes in the international economy. Copyright 2001 by Oxford University Press.

Suggested Citation

  • Perraton, Jonathan, 2001. "The Global Economy--Myths and Realities: Review Article," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(5), pages 669-684, September.
    • Handle: RePEc:oup:cambje:v:25:y:2001:i:5:p:669-84
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    Cited by:

    1. Elsner, Wolfram & Hocker, Gero & Schwardt, Henning, 2009. "Simplistic vs. Complex Organization: Markets, Hierarchies, and Networks in an 'Organizational Triangle'," MPRA Paper 14315, University Library of Munich, Germany.
    2. Jonathan Perraton, 2019. "The scope and implications of globalisation," Chapters, in: Jonathan Michie (ed.), The Handbook of Globalisation, Third Edition, chapter 3, pages 50-76, Edward Elgar Publishing.
    3. Wolfram Elsner, 2005. "Real-World Economics Today:The New Complexity, Co-ordination and Policy," Review of Social Economy, Taylor & Francis Journals, vol. 63(1), pages 19-53.
    4. Melnikas Borisas, 2018. "The Knowledge Economy and the Activation of Scientific and Technological Progress: Contemporary Challenges," Ekonomika (Economics), Sciendo, vol. 97(1), pages 7-23, January.
    5. Bergek, Anna & Berggren, Christian, 2004. "Technological internationalisation in the electro-technical industry: a cross-company comparison of patenting patterns 1986-2000," Research Policy, Elsevier, vol. 33(9), pages 1285-1306, November.

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