National Innovation Strategies in the Global Economy
Edited by Göran Marklund, Nicholas S. Vonortas and Charles W. Wessner
Göran Marklund, Nicholas S. Vonortas and Charles W. Wessner 1.1 GLOBALIZATION Globalization is rapidly changing the conditions for social interactions, economic processes and political agendas. In particular, globalization is aﬀecting economic opportunities and economic competition. As a consequence, it has important impacts on the conditions for economic growth, wealth distribution and social welfare. In its most general sense, globalization refers to the worldwide integration of humanity and the compression of both the temporal and spatial dimensions of worldwide human interactions. However, it is more often discussed in the more limited sense of the increasing economic integration and economic interdependence of countries. Globalization is the consequence of the deeply intertwined and mutually interdependent evolution of economic, technological and social processes. The processes of spatial integration of production and technologies started in the earliest days of human history. It is only relatively recently, however, that these processes have had such an impact on the economic, technological and social integration of regions worldwide that the term globalization is warranted. Although a quite modern phenomenon, globalization is considerably older than is generally discussed in the now abundant literature on its size and consequences. Globalization, in terms of global ﬂows of capital and, thus, of technology, productive capacity and economic power, is at the heart of the capitalist economic system. Hence, the roots of the driving forces of modern economic globalization go back to, at least, the late nineteenth century. The ﬁrst signiﬁcant wave of globalization took place in the period 1870...