Globalization
Professor Levitt coined the word “globalization” in this 1983 article.
When we think of globalization we are thinking in part of structures and institutions that have been developed over time and that have allowed us to become more interdependent and interrelated. But the development, the extraordinary development, of those structures and institutions has not fundamentally transformed our humanity. We are still those animals with fears and anxieties and insecurities in the face of death and dread and disappointment and disease.
The tools to crush modern slavery exist, but the political will is lacking.
Consumption has massively benefited from globalization.
Globalization is a reality. And this makes most leaders today realize that populist illusions can't be sustained before they collapse into stagnation and leave their political supporters deeply disillusioned. You can't inflate away your troubles or allow mountains of debt to build up if, as a country, you have to make your living in a globally competitive environment... Building prosperity requires caution and patience. It requires time. Populism is a short cut that doesn't work.
The essence of globalization is a subordination of human rights, of labor rights, consumer, environmental rights, democracy rights, to the imperatives of global trade and investment.
Globalization is the process by which markets integrate worldwide.
The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
Globalization ... is the most important change in the history of mankind, and often just the latest name for the conspiracy of the rich against the poor.
The downsides of globalization are indeed painful, ... But taking the bigger pills against its ills is superior to living inside a sterile bubble.
There are supply chains that exist in China and Asia now which the U.S. simply can't replicate.
With global rules for global supply chains, we can end corporate greed.
Globalization has taken a hit in that there is some sand in the gears because most of us have supply chains that are all over the world that we've had to lengthen.
Companies that operate across borders have the expertise SMEs need. Who better to help smallholder farmers navigate complex sustainability standards than the companies who demand - or set - them?
It's hard to see any institutional structure that stands in the way of the homogenization and simplification of these supply chains in international capitalism, unless it is the nation state.
The globalized nature of production and innovation means that the benefits don't necessarily stay in the country where the investments are made.
On their own, tariff and trade barriers, if viewed as transitory negotiating tactics, will not significantly change global investment patterns or the structure of global supply chains and employment.
There's no question that a lot of Americans on both the right and the left are expressing some fears and frustrations about the dislocations brought on by globalisation. Many of those frustrations are legitimate and they need to be addressed.
The multinational corporation and international production reflect a world in which capital and technology have become increasingly mobile, while labor has remained relatively immobile.
We draw many benefits from globalization that people take for granted. Poverty has been reduced massively around the world. If you look at the Chinese numbers, it is quite mind-boggling: 700 million people taken out of poverty in a matter of 40 years, the poverty rate having moved from over 30 per cent from hardly six per cent now. That would not have happened if there had not been globalization.
Globalization is a fact of life. But I believe we have underestimated its fragility.
Specialization makes the welfare of the society vulnerable to the market and to political forces beyond national control.