Economic Popularism and Globalization

KIM,, D. , & YOUN,, M. (2020). Economic Popularism and Globalization. The Journal of Distribution Science, 18(3), 37-41, https://doi.org/https://doi.org/10.15722/jds.18.3.202003.37

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Abstract

Purpose: The purpose of this paper is to examine the recent resurgence of popularism and the possible impacts it may have on contemporary business and economics. Research design, data and methodology: This is an exploratory case study that examines the rise of popularism and identifies and analyzes the likely implications for contemporary business and economics. Results: Although populists tend to reject elitism, capitalism, economic globalization, and political establishment, their ethnocentric behavior is no different from those of the corrupt political and economic elites. Popularism does enable nationalism and protectionism and negatively impacts business and economic growth. Conclusions: Popularism existed for a long time, and this phenomenon will continue to exist as long as a triggered mechanism exist, e.g., income inequality, resurgence of immigration, recession, insufficient factors of resources and social welfare. The recent rise of popularism is not a fad or a short-lived anti-establishment and anti-elitism movements but, rather, a force to be reckoned with in the near future. The rise of economic nationalism limits international trade, integration, and cooperation. As a result, international capital, service, and product flows will decline, and countries and multinational corporations have to develop and restructure their international supply and value chain to cope with this phenomenon.

keywords: Popularism, Nationalism, Globalization, International Supply and Value Chain

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Article Contents

Vol.18 No.3

Economic Popularism and Globalization

Abstract

Reference

The Journal of Distribution Science