Economic Liberalisation and Globalisation

Globalisation is the changes in societies and the world economy that result from dramatically increased international trade and cultural exchange. It describes the increase of trade and investing due to the falling of barriers and the interdependence of countries. In specifically economic contexts, the term refers almost exclusively to the effects of trade, particularly trade liberalisation or free trade. The term ‘liberalisation’ came to mean the combination of laissez-faire economic theory with the removal of barriers to the movement of goods. This led to specialisation of nations in exports and the pressure to end protective tariffs and other barriers to trade.  Although globalisation and economic liberalisation became the factors which determine the direction of our lives, there is little consensus on how to approach the subject of globalisation or how our lives will be affected by it. This book provides the basic context for understanding what globalisation and liberalisation means for human society in the contemporary world. It also discusses the likely outcomes of globalisation, both good and bad. The book will be highly beneficial for scholars, students, and all those interested to know about globalisation and economic liberalisation.