Slobodian Challenges Conventional Views on Globalization in Recent Feature
In a recent Bloomberg Markets article titled “Everything You Thought About Free Trade Is Wrong,” Professor of International History, Quinn Slobodian was featured for his critical examination of globalization. The article explores Slobodian’s latest book, “Crack-Up Capitalism: Market Radicals and the Dream of a World Without Democracy,” challenging the prevailing narrative of free trade’s success.
Slobodian questions the widely taught and assumed story of globalization that touts the benefits of free trade erasing borders and fostering prosperity. His book delves into special economic zones worldwide, where companies operate with minimal regulation, highlighting how these zones create new borders within nations.
From large zones like China’s Shenzhen to smaller ones offering tax incentives, Slobodian argues that globalization doesn’t eliminate borders but shifts them to favor specific regions. The article emphasizes Slobodian’s unique perspective, intervening in the historical narrative and shedding light on the changes in global capitalism over the past four decades.
The economic zones he discusses, ranging from Dubai to Southeast Asia, concentrate trade and manufacturing activity, attracting substantial investment. Slobodian’s insights prompt readers to reconsider the conventional wisdom surrounding globalization and its impact on economic and social inequalities.
Political economist Jamie Peck from the University of British Columbia in Canada supports Slobodian’s conclusion, stating, “Yes, globalization is a real thing, but it’s a name for the transnational integration of economies, which produces very uneven outcomes. It makes new geographies—it doesn’t obliterate them.”
As Slobodian contends that economic zones make trade easier and increase profits for companies within them, the article explores varying opinions on their effectiveness. Some argue that reforming smaller entities, like business parks or cities, can bypass entrenched interests, while others critique these zones for reinforcing inequalities and flouting laws.
The Bloomberg Markets feature highlights Slobodian’s significant contribution to the ongoing debate on globalization, making readers rethink the narrative of a borderless world of unleashed free enterprise. The article can be accessed here.