The Globalisation of Markets

Abstract

This chapter examines the main causes, the evolution, the principal consequences, and the policy implications of globalisation. The analysis focuses on its articulation in two surges of globalisation divided by an intermediate period of de-globalisation. The specific features of the First and Second Globalisations are spelled out by reconstructing the co-evolution of history of facts and history of economic analysis (pure theory of free trade). A discussion follows on the main arguments in favour or against the process of globalisation. The controversial issue of cross-country mobility of production factors is then briefly examined. The final remarks advocate a cautious attitude towards free trade, keeping in mind that the freedom of people should always be the ultimate priority.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 103 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.