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What Might Globalization's Critics Believe?

Author

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  • Alan V. Deardorff

    (University of Michigan)

Abstract

Critics of globalization object to many things, some of which can be easily understood within standard economic models, but others of which seem to reflect a view of the world that economists generally do not share. This paper attempts to identify several alternative frameworks for analysis within which some of their criticisms may be understood, with the ultimate aim of extracting testable implications that differ from standard models. Three such alternative models are suggested, all of which focus mainly on the behavior of owners and managers of corporate capital: an anti-labor model, in which capitalists are willing to sacrifice some of their own profits for the chance to make labor worse off; a labor-monopsony model in which capitalists cooperate globally to increase profits by depressing wages; and an international political economy model in which capitalists use their resources to influence the political process for more than just obtaining import protection. This third framework, which is not spelled out in any detail here, has capitalists seeking policies such as export subsidies and other means of promoting market access, and it also has them influencing the international negotiations that set the rules of international agreements and organizations, such as the NAFTA and WTO. Examples of the latter sort of influence are discussed.

Suggested Citation

  • Alan V. Deardorff, 2002. "What Might Globalization's Critics Believe?," Working Papers 492, Research Seminar in International Economics, University of Michigan.
  • Handle: RePEc:mie:wpaper:492
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    File URL: http://fordschool.umich.edu/rsie/workingpapers/Papers476-500/r492.pdf
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    References listed on IDEAS

    as
    1. Robert W. Staiger & Kyle Bagwell, 1999. "An Economic Theory of GATT," American Economic Review, American Economic Association, pages 215-248.
    2. Alan V. Deardorff, 1990. "Should Patent Protection Be Extended to All Developing Countries?," The World Economy, Wiley Blackwell, vol. 13(4), pages 497-508, December.
    3. repec:fth:michin:259 is not listed on IDEAS
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    Cited by:

    1. John Whalley, 2008. "Globalisation and Values," The World Economy, Wiley Blackwell, vol. 31(11), pages 1503-1524, November.
    2. Holger Görg & David Greenaway, 2004. "Much Ado about Nothing? Do Domestic Firms Really Benefit from Foreign Direct Investment?," World Bank Research Observer, World Bank Group, vol. 19(2), pages 171-197.
    3. Michael G. Plummer, 2014. "The emerging “post-Doha” agenda and the new regionalism," Chapters,in: New Global Economic Architecture, chapter 8, pages 172-196 Edward Elgar Publishing.
    4. Khaled Elmawazini & Gamal Atallah & Sonny Nwankwo & Yazid Dissou, 2013. "US Foreign Affiliates, Technology Diffusion and Host Country Human Development: Human Development Index versus Human Capital," Industry and Innovation, Taylor & Francis Journals, pages 69-91.
    5. Alan V. Deardorff, 2004. "Who Makes the Rules of Globalization," Working Papers 517, Research Seminar in International Economics, University of Michigan.
    6. Wolf-Heimo GRIEBEN, 2004. "Globalization, Labor Market Rigidities and Multiple Equilibria," DEGIT Conference Papers c009_020, DEGIT, Dynamics, Economic Growth, and International Trade.
    7. Anastasia Guscina, 2006. "Effects of Globalization on Labor’s Share in National Income," IMF Working Papers 06/294, International Monetary Fund.
    8. Schmidt, Oliver, 2005. "Understanding the case of international labour standards – methodological insights into an ongoing debate," MPRA Paper 5558, University Library of Munich, Germany, revised Jun 2006.

    More about this item

    Keywords

    Globalization;

    JEL classification:

    • F1 - International Economics - - Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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