The Front Row Podcast #53- Marc Levinson : Is The Age of Globalization Over?
Sep 10, 2025
Marc Levinson, an acclaimed economist and historian known for his insightful writing on globalization, dives into the evolution of global trade. He discusses the transformative impact of containerization on commerce, spotlighting Malcolm McLean's innovations. The conversation highlights the transition from physical goods to the exchange of ideas in globalization and addresses the socio-economic effects of automation on workers. Levinson also explores how America can navigate its industrial future while adapting to technological changes in the job market.
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Industrial-Era Globalization Started Early
- The first wave of globalization began in the 1830s and was driven by industrial-era firms and rising international trade.
- That trade largely moved commodities and manufactured goods between industrial countries and colonies, not the complex value chains of today.
Three Catalysts That Unlocked Trade
- Steamships, the telegraph, and new economic ideas lowered costs and enabled planning across borders.
- Changing thought from mercantilism to mutual benefits of trade unlocked tariff reductions and more openness.
Business Decisions Drive Trade Shifts
- Business practices and firm-level decisions often drive trade changes more than government policy.
- Entrepreneurs optimize profit for firms, and aggregated micro choices produce major macroeconomic shifts.
