Module 4: The Economics of Globalization

Contemporary Economic Globalization

What events led to the development of contemporary economic globalization?

Each of these events did not occur in isolation but as a response to issues and events of a specific time period. Most economists consider the context of after the Second World War as the time period whencontemporary economic globalization emerged. Many of them see the resulting economic, political, and social impacts on prosperity and sustainability as having origins in the twentieth century.

contemporary economic globalization: often used to refer to the post-Second World War period when economic policies and practices led to increased global trade and interdependence

Read

Read pages 209 to 213 in Perspectives on Globalization. This will give you an introduction to the four events considered critical to the expansion of economic globalization.

Assignment

Please complete your Contemporary Economic Globalization assignment at this point.

Economic globalization has its origins in the conditions at the end of World War II and the emergence of the Internet and technology. The creation of the World Bank, the regulation of currency, the International Monetary Fund, and the emergence of a global free market economy were created in response to the poor economic conditions.