Flowback or the End of Globalization. (January 2014)

• Record Type: Journal Article
• Authors: Smith, Paul
• Other Names: Mathew A.F. guest-editor.
• Is Part Of: IIM Kozhikode Society & Management Review. Volume 3:Number 1(2014:Jan.)
• Page Start: 1
• Page End: 9
• Publication Date: 2014-01
• Subjects: End of globalization -- global flows -- labour flows -- capital flows -- tendency of the rate of profit to fall -- capitalist crisis; Industrial management -- Periodicals; Industrial management -- India -- Periodicals; Industrial management -- Asia -- Periodicals; Business enterprises -- Periodicals; Business enterprises -- India -- Periodicals; Business enterprises -- Asia -- Periodicals; 658.005
• DOI: 10.1177/2277975214535143
• Languages: English
• ISSNs: 2277-9752

Abstract

The processes of globalization have often been described by way of the metaphor of 'flows'—flows of people, goods, capital or ideas. Since the recent worldwide economic recession the nature, direction and vectors of those flows have altered, such that it is time to talk about 'flowback' or even the end of globalization. Looking at flows of people and capital in particular, the article proposes that the changes brought about by the recession were always immanent in the processes of globalization itself and that the recession is best seen as a crisis of globalization. Even if a recovery is underway, the processes of globalization will have been altered forever.