Deglobalization 2.0
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Deglobalization 2.0

Trade and Openness During the Great Depression and the Great Recession

Peter A.G. van Bergeijk

Deglobalization 2.0 argues that Trump and Brexit are the symptoms, and not the causes, of a long sequence of alternating phases of globalization and deglobalization driven by increasing income inequality and the retreat from the global stage by a contested hegemon. Providing rich empirical details, Peter van Bergeijk investigates similarities and differences between the Great Depression of the 1930s and the Great Recession and its aftermath of a slowdown in global trade. Providing an overview of recent findings and a discussion of contributions from several disciplines, the book investigates scenarios for the future of the economic world order and proposes possible solutions.
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Chapter 5: Is Deglobalization Good or Bad?

Peter A.G. van Bergeijk

Abstract

Discusses problems, biases and incompleteness of the debate on (de)globalization. Deals with often forgotten costs including efficiency, external effects, adjustment and coordination costs (both internationally and internationally). Provides a balanced discussion of the economics underpinning strategies and proposals to limit globalization. Deals with normative proposals in the field of development studies by Bello and national security related neomercatilistic theories. Discusses the Liberal Peace and its critics. Provides an analysis of the marginal costs and benefits of reglobalization and deglobalization.

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