International Trade, Prosperity and Inequality in Globalization

Abstract

This paper purpose is to make a description and a critical discussion about some key trends in the world trade of goods and services, and economic inequality during the last decades in the globalization context. With this aim, we explain some key processes underlying this evolving capitalist phase. From there, we point out the main virtuous processes but also economic problems characterizing the evolution of the world economy during the last decades. The result of this dynamic has been the perpetuation of various types of inequalities, and the permanence of a large set of social groups mired in poverty and tied to territories generally exploited by the grasps of transnational capital, whose own discourses and worldviews end up being invisible by issuers who proclaim themselves as universal.

Keywords

international trade, globalization, capitalism, inequality, economic cr

Author Biography

Leonardo Raffo-López

Economist and Master in Applied Economics from the Universidad del Valle. Full-time Professor in the Department of Economics of the Universidad del Valle.

Edwin Arbey Hernández-García

Master in Applied Economics from the Universidad del Valle. Associate professor in the Department of Economics of the University of San Buenaventura

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