Abstract
Globalization has many dimensions, mostly familiar to many such as trade, capital, labor, and knowledge. We distinguish between short-term and long-term capital flows, and between foreign direct investment and short-term capital flows. In terms of labor, we are not only interested in the flows of labor across countries but also across education markets. But these are only the economic dimensions of globalization. There are other dimensions to globalization as well, having to do with, for instance, globalization of civil society, which has had such an important impact on so many aspects of recent events. This discussion focuses on the economic dimensions of globalization and tries to relate them in a more positive way to development.
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