Abstract
ABSTRACT: Globalization began in the late 1970s, shifted into "hyperglobalization" in the first decade of the twenty-first century, hit "peak globalization" around 2011, and has in the past 10 years given way to "de-globalization," characterized by nationalism and protectionism. The rules of globalization were built on a theory of competitive markets, while the world was in fact riven with growing asymmetries of power and a strong policy bias toward capital. This bias must be eliminated if the global economy is to become more democratic and sustainable as we emerge from this moment of de-globalization.
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