ABSTRACT
This chapter describes basic arguments for and against globalization, winners and losers in globalization, altering patterns of growth and decline, the linkage of theory to growth, decline and revitalization. It introduces the concept of a life cycle of cities, with some cities constantly gaining, some continuously losing, and still others regenerating their economic base. Although most economists support free trade, arguments against such policies at various times gained ascendency. A political backlash against globalized trade can develop if enough people become unemployed or underemployed. For this reason, various economists identify inherent conflict between globalization and democracy. Dumping of goods or services is consistent with the tactic of driving competitors out of the market and dominating high value-added sectors of the global economy. Politics appeared to have played some role in the government loan to Solyndra. Cities and states compete with one another for economic development investment and job creation.
