Searching for a new global development trajectory after COVID-19

Dimos Chatzinikolaou and Charis Vlados

International Journal of Global Environmental Issues, 2022, vol. 21, issue 1, 39-58

Abstract: A growing number of policymakers and scholars refer to the current COVID-19 pandemic crisis as a turning point in the evolution of globalisation. Following these interpretations, a relative theoretical deficiency in analysing the contour of the newly emerging global development perspective is identified. We explore the post-war evolution of world capitalism (from World War II and beyond), focusing on the following pillars: the formation of international regimes, the generation of main types of innovation, and the successive articulation of world development and crisis phases. The current transition period of the post-COVID-19 era constitutes, in its essence, a mutational crisis of the global accumulation regime and mode of regulation, accelerating the transition towards a 'new globalisation'. The generation and application of functional, institutional, and organically perceived business innovation seems to constitute the main component for a sufficiently re-stabilised new global development trajectory.

Keywords: global development model; globalisation; new globalisation; capitalist crisis; socioeconomic transition; innovation; 2008 financial crisis; 2020 pandemic crisis; economic development. (search for similar items in EconPapers)
Date: 2022
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