Economic Globalization from a Broader, Long-Term Perspective: Some Questions and Concerns

This article considers economic growth in view of a diversity of risks. These concern economic shifts between developing and developed regions with serious global implications. Some examples are labour and capital flows, attended by increasing instability, but also risks of international tax competition and environmental deterioration on a global scale. Moreover, the article addresses spiritual concerns about the materialistic and egoistic attitude encouraged by economic globalization and the strife for material wealth. The main conclusion is that perhaps a shift in emphasis from materialistic concerns towards spiritual values should be stimulated in the Western world.