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RESEARCH PRODUCT

Globalization Is Dead: Long Live the Globalization!?

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Globalization was the mainstream paradigm in the last 70 years, long enough to create and explain prosperity and welfare in a connected world. Recently, there are many signs that we are reaching a turning point. From jobs, wages, and unemployment to immigrants and Brexit, all the key debates emphasize that the world is preparing for a new kind of globalization which will be less about countries and multinationals and more about people. There is no doubt that old globalization had winners and losers, but more than ever, the voice of the people who reject globalization was heard in 2016, specifically in the UK and USA. The world will have to deal with new institutions, and technologies and will have to find new indicators to measure these trends. European Integration itself, the most powerful success story of the post-War World II, is under question. The aim of this paper is to examine how, in the last year, mainstream economists and organizations reacted and contributed to the idea that the old globalization will be replaced by a new kind of globalization or if there are signs that a completely different paradigm will emerge. The methodology was to systematize the contributions as they were reflected in journals, scientific articles, conference papers, and different reliable online sources. As we emphasize in the title, the results of the review show that there are visible signs for the end of globalization as we know it and the seeds of a new form of globalization are already visible.