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Contemporary Phase of Globalization: Does It Have a Serious Downside?

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  • Dilip Das

Abstract

There are many who logically or illogically regard the contemporary phase of economic globalization as a negative, harmful, destructive, marginalizing and malevolent influence. Notwithstanding its positive welfare implications, it has been a serious source of national, regional and global economic problems for many economies, both developing and advance industrial ones. Partial blame for the fall 2008 meltdown of the global financial market does justly go to globalization. It is also blamed for uneven distribution of income within and between countries. Consequently global policy environment has turned globalization-unfriendly. Without negating the affirmative aspects of globalization and its welfare-enhancing contributions, this article focuses on the negative aspects of the contemporary phase of economic globalization.

Suggested Citation

  • Dilip Das, 2008. "Contemporary Phase of Globalization: Does It Have a Serious Downside?," Global Economic Review, Taylor & Francis Journals, vol. 37(4), pages 507-526.
  • Handle: RePEc:taf:glecrv:v:37:y:2008:i:4:p:507-526
    DOI: 10.1080/12265080802481058
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    References listed on IDEAS

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    1. Atkinson, A.B., 2000. "Increased Income Inequality in OECD Countries and the Redistributive Impact of the Government Budget," Research Paper 202, World Institute for Development Economics Research.
    2. Gregory Mankiw, N. & Swagel, Phillip, 2006. "The politics and economics of offshore outsourcing," Journal of Monetary Economics, Elsevier, vol. 53(5), pages 1027-1056, July.
    3. William R. Cline, 1999. "Trade and Income Distribution: The Debate and New Evidence," Policy Briefs PB99-07, Peterson Institute for International Economics.
    4. Frank Levy & Peter Temin, 2007. "Inequality and Institutions in 20th Century America," NBER Working Papers 13106, National Bureau of Economic Research, Inc.
    5. Jean-Marc Burniaux & Flavio Padrini & Nicola Brandt, 2006. "Labour Market Performance, Income Inequality and Poverty in OECD countries," OECD Economics Department Working Papers 500, OECD Publishing.
    6. Dilip K. Das, 2007. "The Evolving Global Trade Architecture," Books, Edward Elgar Publishing, number 12686.
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    Cited by:

    1. Dirk J. Bezemer, 2011. "Who Predicted the Crisis and What Can We Learn from Them?," Chapters,in: The First Great Recession of the 21st Century, chapter 1 Edward Elgar Publishing.

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