On the Threshold of the Third Globalization: Why Liberal Capitalism Might Fail?

18 Pages Posted: 26 Mar 2001  

Branko Milanovic

World Bank - Development Research Group (DECRG); University of Maryland

Date Written: December 1999

Abstract

The paper contrast three periods of globalization: the Roman-led one of the 2nd-4th century, the British-led one of the 19th century, and the current one led the United States. Each of them not only had a hegemon country but was associated with a specific ideology. However, in reaction to the dominant ideology and the effects of globalization (cultural domination, increasing awareness of ecoonomic inequities) an alternative ideology (in the first case, Christianity, in the second, Communism) sprang up. The alternative ideology uses the technological means supplied by the globalizers to subvert or attack the dominant ideological paradigm.

Keywords: Globalization, inequality

JEL Classification: N00

Suggested Citation

Milanovic, Branko, On the Threshold of the Third Globalization: Why Liberal Capitalism Might Fail? (December 1999). Available at SSRN: https://ssrn.com/abstract=262176 or http://dx.doi.org/10.2139/ssrn.262176

Branko Milanovic (Contact Author)

World Bank - Development Research Group (DECRG) ( email )

1818 H. Street, N.W.
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Washington, DC 20433
United States
202-473-6968 (Phone)
202-522-1153 (Fax)

HOME PAGE: http://econ.worldbank.org/staff/bmilanovic

University of Maryland ( email )

College Park
College Park, MD 20742
United States

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