The Constituent Economic Principles of Globalization in Historical Perspective: Myths and Realities

This article deals primarily with international trade and with the flow and stock of foreign direct investments as indicators of economic globalization. Both recent developments and a historical perspective back to 1830 are presented. The focus is on the rich dominant economies, but a global overview is also given. Recent tendencies do not stand out as unique or radically new when considered in historical light. On the basis of the negative economic and social tendencies of the world economy, the author launches `an Appeal from Stockholm' for a new, global `New Deal'.