ABSTRACT
International relations of production, mediated either by the market or through the internal transactions of multinational corporations (MNCs), are spreading rapidly to most parts of the world. This process of “globalization,” though exaggerated by some analysts, should not, on the other hand, be dismissed as just more of the same.2 While by some measures, the internationalization of production is no more extensive now than in 1913 (see the discussion and data below), this comparison is misleading. First of all, considering the standards of living and economic and political rights of workers and communities, 1913 can hardly be hailed as a reassuring benchmark. Second, the role of national governments and the welfare state in much of the world is fundamentally different and greater now than it was in 1913.3 Hence, the world has never before experienced 1913 levels of globalization with 1990s’ levels and types of government intervention. Are they compatible with each other? Are they sustainable?
