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Truth, Errors, and LiesPolitics and Economics in a Volatile World$
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Grzegorz Kolodko

Print publication date: 2012

Print ISBN-13: 9780231150699

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231150699.001.0001

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Globalization—and Then What?

Globalization—and Then What?

Where Globalization Originated and How to Come Out Ahead in the Era of Worldwide Interdependence

(p.78) Chapter Four Globalization—and Then What?
Truth, Errors, and Lies

Grzegorz W. Kolodko

, William R. Brand
Columbia University Press

This chapter begins by explaining the term globalization, which is used to describe the worldwide dimension of an actively changing reality (economic, cultural, social, and political). Globalization, as defined on economic grounds, is a movement aimed at eliminating limitations in international economic exchange and man-made political barriers. It is a spontaneous process of liberalization and systematic integration into a single, interdependent global market in goods, capital, technology, information, and labor. The chapter elaborates on three of these terms: liberalization, integration, and interdependence. Ultimately, globalization must become less spontaneous and more coordinated; the lack of regulation under the seductive slogan of “economic freedom” means concern for the particular interests of the few at the cost of the many. The key to the future is progress in rationalizing globalization, which requires a new institutionalization of the world economy with all its interdependence.

Keywords:   globalization, liberalization, integration, interdependence, global market, economic freedom

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