Abstract

‘Globalization, the Human Condition and Sustainable Development in the Twenty-first Century: Cross-national Perspectives and European Implications’ is a cross-national, 175 nation based exploration of the deep crisis in which Europe currently finds itself. Investigating the effects of dependency theory and world systems theory upon the global success of eight dimensions of development – including democracy, environmental sustainability, employment, social cohesion, high quality tertiary education and gender justice – this study argues that the current European crisis has been precipitated by the pro-globalist policies of the European Commission.

The comprehensive analysis of this study reveals the magnitude of Europe’s errors. Lowering comparative price levels and increasing dependency on large, transnational corporations, as correctly predicted by Latin American social science of the 1960s and 1970s, emerges as one of the most serious developmental blockades confronting Europe in global society, whilst increases in military expenditure, as proposed by Article 42.3 of the European Union’s Lisbon Treaty, are another large stumbling block against development. The harmful potential of these blockades is severe.

The book’s 175-nation investigation shows that Europe’s failure to develop its own MNC headquarter status in the global economy is a key factor that has hindered its developmental performance. This examination, which duly takes into account the control variables proposed by neoclassical economics and contemporary sociology/political science, also demonstrates the potential outcomes of several alternative scenarios, mainly those proposed by the political Left in Europe, and summarizes the effects of globalization on the environment and ecological vulnerability. What this analysis makes most clear is Europe’s need for change: without amending its pro-globalist policies, the continent will learn nothing from its current crisis – and is destined to compete in a destructive “race to the bottom”.

‘This new book by Arno Tausch and Almas Heshmati is important reading for anyone interested in the global economic, social, political and environmental developments of the past few decades. Since accurate knowledge of these developments is necessary for wise future policies, it is especially important for policymakers to consider carefully the book’s comprehensive findings and insights.’ —Walter Moss, Professor Emeritus, Department of History and Philosophy, Eastern Michigan University

‘Arno Tausch and Almas Heshmati have produced a first-rate study, which greatly contributes to the heated discussion about the economic consequences of globalization. Drawing on relevant empirical data, their insightful arguments should be heeded by both policymakers and economic analysts in the EU and beyond.’ —Manfred B. Steger, Professor of Political Science and Global Studies, University of Hawaii-Manoa and Royal Melbourne Institute of Technology

‘Globalization, the Human Condition and Sustainable Development in the Twenty-first Century: Cross-national Perspectives and European Implications’ is a cross-national, 175-nation-based exploration of the deep crisis in which Europe currently finds itself. Investigating the effects of dependency theory and world-systems theory upon the global success of eight dimensions of development – including democracy, environmental sustainability, employment, social cohesion, high-quality tertiary education and gender justice – this study argues that the current European crisis has been precipitated by the pro-globalist policies of the European Commission, and that in the near future these policies threaten to enter Europe into a destructive ‘race to the bottom’.

Arno Tausch is Visiting Professor of Economics at Corvinus University in Budapest, Hungary and Adjunct Professor of Political Science at Innsbruck University, Austria.

Almas Heshmati is Professor of Economics at Sogang University.

‘By applying a cutting-edge approach to the evaluation of the overall effects of globalization, Arno Tausch and Almas Heshmati have managed to establish absolutely non-trivial and eye-opening conclusions, which European policymakers should not simply listen to but rather abide by.’ —László Trautmann, Dean, Faculty of Economics, Corvinus University of Budapest