Palley, Thomas I. - In: European Journal of Economics and Economic Policies: … 15 (2018) 2, pp. 174-192
-globalizations hypothesis. The second half discusses its analytical implications. The Victorian first globalization and the Keynesian-era second … globalization were driven by gains from trade, and those gains increased industrialized country real wages. The neoliberal third … globalization has been driven by industrial reorganization motivated by distributional conflict. Trade theory does not explain the …