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Economics of Globalization

A Handbook

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Language:  English
An introduction to globalization as an evolving phenomenon with shifting conceptual boundaries.
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  • Preface
  • Foreword
  1. History of globalization
    1. Introduction
    2. Global living
    3. Key networks
    4. Economic thinking
    5. Early origins
    6. Recent history
    7. Hyperglobalization
    8. Weightless economy
    9. Business deals
    10. New challenges
    11. Mixed picture
  2. Structure of globalization
    1. Introduction
    2. Importance of trade
    3. GATT to WTO
    4. Trading costs
    5. Favorable winds
    6. Capital flows
    7. Currency markets
    8. Balance of payments
    9. Sovereign defaults
    10. Growth prospects
    11. Fair trade
    12. Economic freedom
  3. Globalization: relevant theories
    1. Introduction
    2. World-systems paradigm
    3. Globalization economics
    4. Early enthusiasm
    5. Three waves
    6. International economics
    7. Policy coordination
    8. Radical perspective
    9. On balance
    10. Brexit and after
    11. Globalization’s future
  4. Nature and environment
    1. Introduction
    2. Natural resources
    3. Environmental stresses
    4. Water scarcity
    5. Bioinvasions
    6. Economic externalities
    7. Tradeoffs
    8. Mounting insecurity
    9. Sustainability
    10. Renewable resources
  5. Work and wages
    1. Introduction
    2. Shifting sentiments
    3. Technological change
    4. Labor markets
    5. Labor standards
    6. Occupational trends
    7. Uneven developments
    8. Race to the bottom
    9. Reshoring
    10. Global outlook
  6. Finance and investment
    1. Introduction
    2. Globalized finance
    3. Financial markets
    4. International investment
    5. Uneven landscape
    6. Major players
    7. Economic bubbles
    8. Secular stagnation
    9. Global prospects
  7. Policy questions
    1. Introduction
    2. Economic cycle
    3. Macro policies
    4. Currency matters
    5. Financial structure
    6. Systemic risk
    7. Supranational institutions
    8. Changing reality
  8. Puzzling prospects
    1. Introduction
    2. Globalization paradox
    3. Productivity puzzle
    4. Added turbulence
    5. Economic crises
    6. Asian miracle
    7. China rising
    8. Coordination problem
    9. Resetting priorities
    10. Possible backlash
    11. Future prospects
  • Notes
  • Bibliography

This handbook may be used as an introductory text or as supplementary reading material for an undergraduate course in globalization. It resembles an instructor’s notebook that covers a broad range of issues and problems concerning globalization. The goal is to inform and build awareness without the use of grand theorizing and flashy empiricism. The largely descriptive material is drawn from the popular presses as well as scholarly sources. The handbook begins with the history and mechanics of globalization before looking at the theories on offer. This is followed by a detailed exploration of the relationship between globalization and the environment, the changing status of work and wages and the increasingly complex world of finance and investment. The journey concludes with a look at the bigger policy questions and the challenges that globalization poses in an uncertain world. An extensive list of references provides the reader with an opportunity to pursue related topics of interest at leisure.

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About the Author

Gautam Mukerjee

Gautam Mukerjee is an associate professor of economics at the University of Pittsburgh at Bradford. He has taught economics for more than three decades and has published in the Cambridge Journal of Economics, the Journal of Economic Issues and the Real World Economics Review. Years of teaching on globalization inspired him to write this handbook. Mukerjee’s research interests are in the areas of economic methodology, institutional economics and political economy. He enjoys a quiet introspective life in sylvan northwestern Pennsylvania.