Table of Contents

Handbook of Economics and Ethics

Handbook of Economics and Ethics

Elgar original reference

Edited by Jan Peil and Irene van Staveren

The Handbook of Economics and Ethics portrays an understanding of economic methodology in which facts and values, though distinct, are closely interconnected in a variety of ways. From theory building to data collection, and from modelling to policy evaluation, this encyclopaedic Handbook is at the intersection of economics and ethics.

Chapter 25: Globalization

George DeMartino

Subjects: economics and finance, behavioural and experimental economics, history of economic thought

Extract

George DeMartino Introduction The processes of deepening international economic integration that have accelerated over the past quarter century have brought in their train a range of difficult theoretical and ethical questions. Does this integration signal a fundamentally new kind of world economy – commonly referred to as a ‘global economy’ – in which (for the first time) the global market directs economic flows and outcomes? Or does it more prosaically mark a return to the interdependence of earlier historical eras, when widely dispersed national economies were joined in various configurations? Is globalization driven by powerful economic forces over which states have little control, so that political processes and outcomes are now fully determined by economic interests? Or is global economic integration conditioned, enabled and even directed by states that continue to enjoy authority over even global economic actors? Finally, how should we evaluate and perhaps respond to these developments, once we sort out just what they are? These and related questions are deeply contested today – not least because scholars and observers who engage them approach the matter from different theoretical perspectives. It is not at all surprising that political realists differ on these topics from constructivists, or that economic institutionalists, Marxists and neoclassicalists come to blows over these developments. There is by now an extensive literature that examines this terrain. The goal of this chapter is not to review these features of the globalization debate, but instead to turn attention towards some of the most pressing and challenging ethical questions that arise...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information