Unravelling the New Globalization: An Evolutionary Structural Analysis of Postwar World Capitalism and Policy Implications

Dimos Chatzinikolaou and Charis Vlados

No 7-2023, DUTH Research Papers in Economics from Democritus University of Thrace, Department of Economics

Abstract: The globalized socioeconomic system seems to be undergoing a profound crisis and radical structural transformation. This transitional era appears to be leading gradually to a form of a “new globalization,” which has not been definitively shaped yet. This article aims to establish why this new globalization emerges nowadays. First, it examines the postwar phases of world capitalism (from 1945 onward) based on the “evolutionary structural triptych” that explanatorily unifies different theoretical approaches to conclude that the previous globalization period of 1980-2008 has come full circle. Then, it concludes by presenting a critical overview of different approaches to the new globalization and proposes a novel definition of the phenomenon. Finally, it outlines some points that appear crucial for the advent of the desirable new globalization—towards an innovational and realistic global liberalism.

Keywords: new globalization; postwar world capitalism; socioeconomic development; evolutionary approach; hegemonic stability theory; regulation school; international regime; innovation generations (search for similar items in EconPapers)
JEL-codes: B52 F60 P16 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2023-12-27
New Economics Papers: this item is included in nep-his, nep-hme and nep-int
Note: In The 35th Annual EAEPE Conference on “Power and Empowerment in times of multiple crisis.” Leeds, UK. 13-15 September 2023
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