The current essay is a report on the given article “Globalization,” written by Peter Temin and published in Oxford Review of Economic Policy in 1999. The present work aims to discuss a set of actions performed by the author to address the topic. Concerning the outline of the paper, it will be divided into several sections that cover the following aspects of the article: objectives of the research, its approach, the methodology used, main findings, conclusion, recommendations for future research, and personal comments.
Objectives
In his paper, Peter Temin aims at studying the process of globalization during the twentieth century. His focus lies on the three periods: “before the First World War, the Great War and its aftermath of Depression and the Second World War, i. e. 1913-50, and the post-war years” (Temin, 1999, p. 77). The central objective of the research is to address globalization’s process (to demonstrate the level of globalization) by studying the four corresponding variables: goods, capital, labour, and information.
Approach
Concerning the approach, the author chose mixed methods research, as he studies different variables (goods, capital, labour, and information) referring to numerical information – quantitative data, but at the same time Temin uses and interprets historical documents and articles – qualitative data (Temin, 1999). The combination of both methods can be often seen in historical research papers, as it provides a more in-depth understanding of the problem. Furthermore, in terms of a philosophical paradigm that Temin shares, it is the pragmatic worldview. The philosophy often goes in a tight connection with the mixed-method research. The author does not see an absolute truth in one approach, that is why he refers to qualitative, as well as quantitative methods, different data sources, and various assumptions.
Research Methods
As was mentioned above, Temin uses mixed research methods (qualitative and quantitative). First of all, he examines four variables (goods, capital, labour, and information) that refer to different kinds of numeric data. His sources are IMF International Financial Statistics, League of Nations, U.S. Census Bureau, and other articles that present quantitative data on immigration, world trade, and merchandise exports (Temin, 1999). Then, he analyzes and interprets these data in terms of the process of globalization. Secondly, he refers to qualitative methods by analyzing several studies to identify the ‘information’ variable. Further, he discusses and makes assumptions on possible connections between the four variables and explanations of specific scenarios.
Main Findings, Author’s Conclusions, and Recommendations
Before The Great War
The current section shows the main finding in each period focusing on the four variables. In the period before the First World War, Temin concludes that there was a world market for goods, as the prices within the Western World were aligned. However, he mentions that Asia was not fully incorporated in international trade. Concerning the capital, the author highlights a similar situation: it flowed freely in countries that adopted the gold standard (Western Europe, the USA, and the British Empire). Besides, the time before the Great War was the period of mass migration that can be especially seen in the example of the U.S. (Temin, 1999). Lastly, regarding the information, it flowed freely in the countries which were on the gold standard.
The Two Wars
The First World War, the Depression after it, and then The Second World War negatively impacted the process of globalization. International trade stopped growing, and the global economy came to disintegration due to the resurrection and the abandonment of the gold standard. Concerning the capital, the situation was pretty similar to goods: it did not vanish entirely but slowed significantly. In this period, labour migration was almost fully stopped due to wars and new national and international legislation (Temin, 1999). Regarding the information, it continued to move freely across the developed countries.
The Post-War Years
In the following years, the U.S. and Britain took leading roles in international cooperation to restore the global economy. Numerous agreements were made to reduce trade barriers and tariffs that were implemented between the wars. After 1950 export begun to rise again and soon achieved the pre-wars level. The same was concluded on capital markets that underwent a long transmission period. Concerning the international migration, it resumed after the Second World War; however, it changed its patterns. Moreover, by the end of the century, it slowed down and was shaped by new legislation (Temin, 1999). Regarding the information flow, it dramatically increased during the twentieth century due to advancements in technology. To sum up, the author demonstrated how the level of globalization rose before the Great War, and how two wars and post-crisis lately shaped it. Besides, Temin did not derive recommendations for future research but raised an essential question on how it is best to manage the future, increasing global processes.
Conclusion and Comments
In conclusion, the current report aimed at analyzing the article “Globalization” by Peter Temin in terms of its main constituents: objectives, approach, methodology, main findings, conclusions, and recommendations. Findings were discussed in terms of the four variables, and the author’s conclusions were presented in the main part. The paper is essential guidance on globalization tendencies in the twentieth century. However, in my personal view, it lacks suggestions for future research and a clear conclusion that would sum up the extensive research.
Reference
Temin, P. (1999). Globalization. Oxford Review of Economic Policy, 15(4), 76-89. Web.