Pessimists on globalization claim that liberalization of markets allows multinational corporations free reign, constraining local autonomy and precipitating a race to the bottom that will endanger recent democratic gains. The optimists see the end of dirigiste economic models as favorable for...

In this paper, we assess the effect of globalization on the distribution of income within countries, focussing on the influence of foreign direct investment. We analyze data for 72 countries, 1970-90. We incorporate in our tests the Kuznets (1955) curve, measures of the character of political...

Some propose that the rise of right-wing populism in many industrial democracies is due to economic insecurities stemming from globalization — the so-called “race to the bottom” argument. They suggest that greater social protection can cushion society from communal disharmony. Others...