Flowback or the End of Globalization

Paul Smith
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Paul Smith: Paul Smith is Professor in the Cultural Studies doctoral programme at George Mason University, VA, USA and he is the author of many books, notably Discerning the Subject (1988), Millennial Dreams: Contemporary Culture and Capital in the North (1998) and Primitive America: The Ideologies of Capitalist Democracy (2007). His most recent publication is an edited volume, The Renewal of Cultural Studies (2011). E-mail: psmith5@gmu.edu

IIM Kozhikode Society & Management Review, 2014, vol. 3, issue 1, 1-9

Abstract: The processes of globalization have often been described by way of the metaphor of ‘flows’—flows of people, goods, capital or ideas. Since the recent worldwide economic recession the nature, direction and vectors of those flows have altered, such that it is time to talk about ‘flowback’ or even the end of globalization. Looking at flows of people and capital in particular, the article proposes that the changes brought about by the recession were always immanent in the processes of globalization itself and that the recession is best seen as a crisis of globalization. Even if a recovery is underway, the processes of globalization will have been altered forever.

Keywords: End of globalization; global flows; labour flows; capital flows; tendency of the rate of profit to fall; capitalist crisis (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:iimkoz:v:3:y:2014:i:1:p:1-9

DOI: 10.1177/2277975214535143

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