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Global Political Economy

Global Political Economy (5th edn)

John Ravenhill
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date: 22 September 2021

p. 25510. The Logics of Economic Globalizationlocked

p. 25510. The Logics of Economic Globalizationlocked

  • Anthony McGrew

Abstract

This chapter examines the dynamics of economic globalization by focusing on its underlying causes (or logics). It compares and contrasts the principal theoretical accounts of economic globalization, with particular emphasis on how they contribute to our understanding of the current phase of globalization and its future prospects. The chapter explains what economic globalization is and discusses its principal features, along with the key trends associated with the globalization of economic activity in respect of trade, finance, production, and labour. It also considers how theories of international political economy help us in explaining and understanding economic globalization; whether the global financial crisis of 2008 has precipitated the demise of globalization or the emergence of a ‘new wave’; and whether globalization is still the dominant trend or tendency in the world economy today.

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