The concept of deglobalization that we will use in this text departs from a very different definition of globalization. Walden Bello, founder of. Globalization and Deglobalization: A Retrospective. By Walden Bello*. I would like to thank Prof Jan Scholte and the Economics Department of the University of. Walden Bello, Deglobalization: Ideas for a New World Economy (London: Zed Books,. ), pp. , £ Vijay Prashad, Fat Cats and Running Dogs: .

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But there is a global crisis of representative democracy throughout the West today, as well as in countries like the Philippines. What the squid did next. Having subsequently discovered that the American revolutionary Thomas Paine was also described in those terms, the classification seems apt.

The power of Belo the person is that he is pugilistic and angry when necessary for example, when debating James Wolfensohn at the Prague Castle during a World Bank meetingpassionate and militant when needed most recently when speaking to the rally in front of rows of riot police outside the Hong Kong Convention Centre and pretty unassuming the rest of the time.

The power and transportation systems must be transformed into decentralized systems based on renewable sources. His appreciation of the importance of political power is shown by his deep involvement in Akbayan, a political party contesting elections in the Philippines.

The economics profession was partly to blame for the financial meltdown of Bush The economics and politics of over-extension 1.

Society has to own and democratically control the financial system. These multiple crises are not only weakening the US empire, but also intensifying contradictions and conflicts as deglobaliization seeks to hold on to power at all costs.

One can understand the historical reasons why they emerged, in repressive situations, but when they become permanent and develop theoretical justifications for their lack of internal democracy, they can become a really negative force.

Constantly threatened by a formidable alliance between the US and the local oligarchy, Chavez and his supporters are fighting for the space to transform Venezuela and Latin America.


This will entail the demystification of economics and deglobalizatino return to its origins as political economy and moral economy. Over the last two years the international financial crisis has deepened into a crisis of the real economy.

Sison described Walden thus:.

He has also taken a clear position degloblization the Iraqi resistance. Globalization on the rocks. The Future of the Debate Deglobalization has to harvest and learn from the different experiences and initiatives that it has inspired. Finally, the deglobalization movement has different voices with different views that need to strengthen their interactions with delgobalization alternatives that, from different roots, are challenging contemporary capitalist globalization.

Environmentally congenial technology must be developed and diffused in both agriculture and industry.

Deglobalization – reflections of a Filipino MP | New Internationalist

For example, the increasing control of Transnational Corporation of Global Value Chains or the development of new south-south cooperation agreements that promote the expansion of TNCs in emerging economies.

Ideas for a New World Economy, Without peoples power there is no possibility of deep deglobalization. John Maynard Keynes, with a mathematical mind himself, opposed the mathematization of the discipline precisely because of the false sense of solidity this gave to economics.

People are ready for a radical reading of the world, and Walden provides it. Deglobalization — 11 prongs of an alternative The times would seem to be especially propitious for alternative strategies for development. Instead, the scope of democratic decision-making in the economy should be expanded so that all vital economic issues — such as which industries to develop or phase out, what proportion of the government budget to devote to agriculture, etc.

For the record, Walden is against terrorism, but he insists on the necessity of addressing the causes of terrorism: In the aftermath of the recent financial crisis, this extreme formalization has come under criticism waleen within the economics profession itself, with some contending that methodology rather than substance has become the end of economic practice.



Support the website with a monthly donation. As happens with all progressive approaches, its development has gone far beyond some of its original proposals. Globalization continued to be extolled as the wave of the future.

Ceglobalization development and diffusion of environmentally congenial technology in both agriculture and industry should be encouraged.

Additions to the version of the 11 principles of deglobalization are in bold.

Walden Bello and “deglobalisation”

The key questions in networks like Our World is Not for Sale are if the strategies are going to be decided thinking based on arguments that can influence negotiators and governments or on proposals that can galvanize the building up of strong social movements. The next financial crisis. Wayne Roberts finds deglobaliization unsettling that an authoritative and transformative report on cancer released in February has to Civil society must constantly monitor and supervise the private sector and the state, a process that should be institutionalized.

This would include the transformation of energy systems from centralized fossil-fuel-based systems into decentralized systems based on renewable energy sources such as solar, wind and geothermal. Focus on the Global South, The Paradigm: A danger point will come wadlen firms decide that this way of organizing production has had its day.

End the system of overconsumption, luxury and waste driven by large corporations. Socialize the money that currently is under the control of central banks that respond to private interests and not social demands. New multilateral organizations to deal with the issues of finance, trade and credit have to be developed under a new multilateral scheme that looks for all aspects of our Earth community.

It did in Seattle and Genoa; so we should ask how we can develop it further. Proposals for Reform of Global Governance: Out of the ashes of the crash, how are we to create a fairer future?