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(p. 319) 12. Global Growth, Inequality, and Poverty: The Globalization Argument and the ‘Political’ Science of Economics 

(p. 319) 12. Global Growth, Inequality, and Poverty: The Globalization Argument and the ‘Political’ Science of Economics
Chapter:
(p. 319) 12. Global Growth, Inequality, and Poverty: The Globalization Argument and the ‘Political’ Science of Economics
Author(s):

Robert Hunter Wade

DOI:
10.1093/hepl/9780198737469.003.0012
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date: 20 May 2019

This chapter examines the globalization argument, which warns that mutual benefits will be at risk if countries start to backslide on market liberalization. It begins with a discussion of trends in globalization over the past century, and the kind of evidence provided by mainstream economists to support the globalization argument. It then considers global-level trends in economic growth, income inequality, and poverty over the past few decades. It also explains why the consensus among economists about the virtues of globalization has been so resilient. It concludes by outlining some challenges for economists, especially in the field of professional ethics. The chapter argues that the evidence for the globalization argument is not as robust as the policy mainstream presumes.

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