Position The ideas Pankaj Ghemawat first presented in “Distance Still Matters” have enjoyed sustained diffusion over the last decade. At the time of the article’s original publication, mainstream thinking saw globalization as an intrinsically beneficial and unstoppable process. Nowadays this confidence has been tempered, with most voices agreeing that we live in a world which is far from being truly globalized. The consequences of the financial crisis and the last few years of widespread social unrest have had an impact on how people think about globalization.