Open AccessTOWARDS AN OVERTHROW OF THE INTERNATIONAL ECONOMIC ORDER? (FREEDOM OF TRADE OR PROTECTIONISM?)
Publication year - 2017
Publication title -
zbornik radova/zbornik radova - journal of economy and business
Language(s) - English
Resource type - Journals
eISSN - 2712-1097
pISSN - 1840-3255
DOI - 10.46458/27121097.2017.si.268
Subject(s) - protectionism , globalization , neoliberalism (international relations) , politics , political economy , order (exchange) , free trade , economics , political science , economic integration , international trade , economic globalization , inequality , terrorism , development economics , law , mathematical analysis , mathematics , finance
This paper is introducing the new international landscape most probably announcing the end of globalization which was with us for almost 50 years, as well as the coming of protectionism. The new label of the next international order is "open and closed borders", in the place of the traditional distinction of left and right. The emerging political parties, becoming known as populist, appear on the international scene as a necessity in order to reduce the plagues of globalization combined with an extreme form of economic liberalism. Beside the economic causes which threaten to overthrow globalization, as the unprecedented inequality which led to an unorthodox loss in the share of labor in GDP and the establishment of a long-term stagnation, there are also strong non-economic factors as the free flow of immigration towards Europe and terrorism. The future, still unknown, could nevertheless take two different directions. First, the continuation of globalization, however under a different form, based on the realization of the Goudenhove-Kalergi project and on the concept of a world government and second the overthrow of globalization and neoliberalism.