Two Faces of Globalization

Two Faces of Globalization

Munificent and Malevolent

Dilip K. Das

Like the ancient Roman god Janus, globalization has two faces, one benign and the other malign. In this comprehensive and authoritative book, Dilip K. Das fills a gap in the literature by examining both aspects of the contemporary phase of economic globalization.

Chapter 1: Conceptual Globalism and Globalization: An Initiation

Dilip K. Das

Subjects: asian studies, asian urban and regional studies, economics and finance, international economics


This new technology-driven globalization is the new reality to which we are trying to adapt. There truly is no escape from it. Gerald Helleiner, 2000 What you cannot avoid, must be welcomed. A Chinese proverb 1. PRELUDE TO GLOBALISM AND GLOBALIZATION Although the use of these two terms began in the latter half of the 20th century, they have a longer lineage. The contemporary concept of economic globalism can be traced back to the liberal thinking of classical economists like Adam Smith and Herbert Spencer. Terms like globalize were first used in Reiser and Davies (1944). The Webster International Dictionary included them in 1961, while they appeared in the Oxford English Dictionary in 1986. The term globalization was coined in 1962.1 Most major languages were quick to develop an equivalent taxonomy. In business and economics, marketing legend Theodore Levitt of Harvard Business School used it first in 1983 in an article entitled “The Globalization of Markets”.2 His article is regarded as an enduring classic and its insightful language is still relevant today. Although the contemporary era of economic globalism is barely three decades old, neither is the essential concept of globalism novel nor is globalization a new phenomenon. In its conceptual, corporeal and functional forms globalism is more than two thousand years of age. Was the spread of Buddhism in the fifth century BC from northern India to China, Japan and other East Asian countries not cultural and informational globalism, which we now put under the rubric of social...

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