Macroeconomics of Globalized Economies

Globalization is a natural process that has been going on for millennia. The alternative to globalization is the isolation of each country from all others, each state from others, and even isolation of a village from the next. All the way to the twentieth century you could find areas of the world where the inhabitant of one village could not understand the language of people in a nearby village. But there has always been a natural process of interaction and even integration among people and nations.

The commerce of one country with another, is in fact merely an extension of that division of labour by which so many benefits are conferred upon the human race. As the same country is rendered the richer by the trade of one province with another. James Mill, Commerce Defended, 1808 (reprinted 1965), p. 38

No man is an island, entire of itself; every man is a piece of the continent, a part of the main; if a clod be washed away by the sea, Europe is the less, as well as if a promontory were, as well as if a manor of thy friend's or of thine own were; any man's death diminishes me, because I am involved in mankind, and therefore never send to know for whom the bell tolls; it tolls for thee.John Donne, “Devotions Upon Emergent Occasions, Meditation XVII”

Something there is that doesn’t love a wall,

That sends the frozen-ground-swell under it,

And spills, the upper boulders in the sun;

And make gaps even two can pass abreast. Robert Frost, “Mending Wall”

Mr. Gorbachev, tear down this wall! President Ronald Reagan Remarks at the Brandenburg Gate, West Berlin, Germany June 12, 1987