Skip to main content

Abstract

Economics has sustainable political impact, shapes beliefs, institutions and policies and co-creates global economic reality. Therefore, citizens should be aware of economics’ ways of thinking and its impact on national and international institutions and policies. The chapter presents plural perspectives to economic globalisation. It outlines rather mixed empirical evidence. Against widespread belief, national governments are still key players of economic globalisation enjoying considerable leeway in dealing with domestic impact of globalisation. From this perspective, global citizenship education can be conceptualised as “normal” citizenship education applied to the field of global political issues.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Institutional subscriptions

References

  • Acemoglu, D., & Robinson, J. A. (2012). Why nations fail: The origins of power, prosperity and poverty. New York: Crown Publishers.

    Google Scholar 

  • Arestis, P., Chortareas, G., Desli, E., & Pelagidis, T. (2012). Trade flows revisited: Further evidence on globalisation. Cambridge Journal of Economics, 36(2), 481–493.

    Article  Google Scholar 

  • Arestis, P., & Singh, A. (2010). Financial globalisation and crisis, institutional transformation and equity. Cambridge Journal of Economics, 34(2), 225–238.

    Article  Google Scholar 

  • Beckfield, J. (2010). The social structure of the world polity. American Journal of Sociology, 115(4), 1018–1068.

    Article  Google Scholar 

  • Bell, S., & Hindmoor, A. (2015). Masters of the universe, slaves of the market. Cambridge, Massachusetts: Harvard University Press.

    Book  Google Scholar 

  • Benería, L., Berik, G., & Floro, M. S. (2016). Gender, development, and globalization: Economics as if all people mattered (2nd ed.). New York, London: Routledge.

    Google Scholar 

  • Buchholz, S., Hofäcker, D., Mills, M., Blossfeld, H.-P., Kurz, K., & Hofmeister, H. (2009). Life courses in the globalization process: The development of social inequalities in modern societies. European Sociological Review, 25(1), 53–71.

    Article  Google Scholar 

  • Bureau, J.-C., Guimbard, H., & Jean, S. (2016). Competing liberalizations: Tariffs and trade in the 21st century (CEPII Working Paper No. 2016-12). Paris.

    Google Scholar 

  • Chwieroth, J. M. (2010). Capital ideas: The IMF and the rise of financial liberalization. Princeton, NJ: Princeton University Press.

    Google Scholar 

  • Delhey, J., Deutschmann, E., Graf, T., & Richter, K. (2014). Measuring the Europeanization of everyday life: Three new indices and an empirical application. European Societies, 16(3), 355–377.

    Article  Google Scholar 

  • Deutschmann, E. (2015). Regionalization and globalization in networks of transnational human mobility, 2000–2010. SSRN Electronic Journal.

    Google Scholar 

  • Dicken, P. (2015). Global shift: Mapping the changing contours of the world economy (7th ed.). Los Angeles, California: Sage.

    Google Scholar 

  • Fourcade, M. (2009). Economists and societies: Discipline and profession in the United States, Britain, and France, 1890s to 1990s. Princeton: Princeton University Press.

    Book  Google Scholar 

  • Genschel, P., & Seelkopf, L. (2015). The competition state: The modern state in a global economy. In S. Leibfried, E. Huber, M. Lange, J. D. Levy, F. Nullmeier, & J. D. Stephens (Eds.), The Oxford handbook of transformations of the state (pp. 237–252). Oxford: Oxford University Press.

    Google Scholar 

  • Hirschman, D., & Berman, E. P. (2014). Do economists make policies? On the political effects of economics. Socio-Economic Review, 12(4), 779–811.

    Article  Google Scholar 

  • Hirst, P. Q., Thompson, G., & Bromley, S. (2009). Globalization in question (3rd ed.). Cambridge, UK: Polity.

    Google Scholar 

  • Jessop, B. (1999). Reflections on globalisation and its (il)logic(s). In P. Dicken, P. F. Kelly, L. Krong, K. Olds, & H. W.-C. Yeung (Eds.), Globalisation and the Asia Pacific. Contested territories (pp. 19–38). London: Routledge.

    Google Scholar 

  • Jessop, B. (2014). Finance-dominated accumulation and post-democratic capitalism. In S. Fadda & P. Tridico (Eds.), Institutions and development after the financial crisis (pp. 83–105). London: Routledge.

    Google Scholar 

  • MacKenzie, D. A., Muniesa, F., & Siu, L. (Eds.). (2007). Do economists make markets? On the performativity of economics. Princeton: Princeton University Press.

    Google Scholar 

  • McMillan, M., Rodrik, D., & Verduzco-Gallo, Í. (2014). Globalization, structural change, and productivity growth, with an update on Africa. World Development, 63, 11–32.

    Article  Google Scholar 

  • Ocampo, J. A., & Stiglitz, J. E. (2012). From the G-20 to a Global economic coordination council. Journal of Globalization and Development, 2(2), Article 9.

    Google Scholar 

  • Palermo, G. (2016). Power, competition and the free trader vulgaris. Cambridge Journal of Economics, 40(1), 259–281.

    Article  Google Scholar 

  • Philippon, T., & Reshef, A. (2012). Wages and Human capital in the U.S. Finance: 1909–2006. The Quarterly Journal of Economics, 127(4), 1551–1609.

    Article  Google Scholar 

  • Potrafke, N. (2015). The evidence on globalisation. The World Economy, 38(3), 509–552.

    Article  Google Scholar 

  • Rodrik, D. (2007). One economics, many recipes: Globalization, institutions, and economic growth. Princeton: Princeton University Press.

    Google Scholar 

  • Rodrik, D. (2011). The globalization paradox: Democracy and the future of the world economy. New York, London: Norton.

    Google Scholar 

  • Rodrik, D. (2015). Economics rules: The rights and wrongs of the dismal science. New York: Norton.

    Google Scholar 

  • Sassen, S. (2008). Territory, authority, rights: From medieval to global assemblages. Princeton, Oxford: Princeton University Press.

    Book  Google Scholar 

  • Scholte, J. A. (2007). Globalization: A critical introduction (2nd rev. ed.). Basingstoke: Palgrave Macmillan.

    Google Scholar 

  • Steger, M. (2015). Market globalism. In M. B. Steger, P. Battersby, & J. M. Siracusa (Eds.), The Sage handbook of globalization (pp. 23–38). London: Sage.

    Google Scholar 

  • Stiglitz, J. E. (2002). Globalization and its discontents. New York, NY: Norton.

    Google Scholar 

  • Stiglitz, J. E. (2013). The price of inequality. New York, London: Norton.

    Google Scholar 

  • Stiglitz, J. E. (2016). Towards a general theory of deep downturns: Presidential address from the 17th World congress of the international economic association. Houndmills, Basingstoke, New York: Palgrave Macmillan.

    Google Scholar 

  • Swank, D. (2001). Mobile capital, democratic institutions, and the public economy in advanced industrial societies. Journal of Comparative Policy Analysis, 3(2), 133–162.

    Google Scholar 

Download references

Acknowledgement

I am very grateful for proposals from Thorsten Hippe which helped very much to conceptualise the chapter.

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Reinhold Hedtke .

Editor information

Editors and Affiliations

Copyright information

© 2018 The Author(s)

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Hedtke, R. (2018). Economy and Economics. In: Davies, I., et al. The Palgrave Handbook of Global Citizenship and Education. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-59733-5_20

Download citation

  • DOI: https://doi.org/10.1057/978-1-137-59733-5_20

  • Published:

  • Publisher Name: Palgrave Macmillan, London

  • Print ISBN: 978-1-137-59732-8

  • Online ISBN: 978-1-137-59733-5

  • eBook Packages: EducationEducation (R0)

Publish with us

Policies and ethics