The Scorecard on Globalization 1980–2000: Twenty Years of Diminished Progress

Abstract

It is commonly accepted that the increased opening to international trade and financial flows that has occurred in the vast majority of countries in the world has been an overall success. This paper looks at the major economic and social indicators (the growth of income per person, life expectancy, mortality among children and adults, literacy, and education) for all countries for which data are available, and compares the last 20 years of globalization (1980–2000) with the previous 20 years (1960–1980). For economic growth and almost all of the other indicators, the last 20 years have shown a very clear decline in progress as compared with the previous two decades. And there is certainly no evidence in these data that the policies associated with globalization have improved outcomes for most low to middle–income countries. At the very least, the burden of proof would be squarely placed on those who claim success of globalization.