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The emergence of the new globalization: the approach of the evolutionary structural triptych

Charis Vlados (Department of Economics, Democritus University of Thrace, Komotini, Greece; School of Business, University of Nicosia, Nicosia, Cyprus; School of Social Sciences, Business and Organisation Administration, Hellenic Open University, Patra, Greece and Knowledge Management, Innovation and Strategy Center (KISC), University of Nicosia, Nicosia, Cyprus)
Dimos Chatzinikolaou (Department of Economics, Democritus University of Thrace, Komotini, Greece and Knowledge Management, Innovation and Strategy Center (KISC), University of Nicosia, Nicosia, Cyprus)

Journal of Global Responsibility

ISSN: 2041-2568

Article publication date: 30 April 2024

68

Abstract

Purpose

This study aims to analyze the emergence of a new structural configuration of globalization, with the 2008 global financial crisis serving as the first symptom of this change. By introducing the “Evolutionary Structural Triptych” (EST), this research seeks to understand the basic components of the new evolutionary trajectory of global capitalism post-2008. The study places emphasis on its interdependent and coevolving economic, political and technological dynamic facets.

Design/methodology/approach

This research introduces the EST framework, critically contrasting it with conventional understandings in international political economy (IPE) to provide a comprehensive and structured analysis of global developments after 2008. It traces the phases of global capitalism since Second World War, examines the central dynamic dimensions during each evolutionary phase, identifies the basic patterns and delves into the foundational elements of the emerging era of globalization.

Findings

The analysis reveals three key findings. First, the emerging restructured globalization indicates a need for a new balance in the contemporary world system; however, this balance cannot be achieved within the architecture of the old system. Second, the new era of globalization necessitates a re-equilibrated approach across different dimensions of geopolitical stability, economic development and innovation. This approach should emphasize sustainability, adaptability, resilience and inclusivity and lean toward responsible, open and organic innovation models for a revamped global structure. Third, while many current IPE theories tend to compartmentalize aspects of the new globalization, the EST advocates for a holistic perspective that integrates politics, economics and technology within the framework of global trends. This perspective bridges existing gaps and offers actionable insights for a dynamic and inclusive global future.

Originality/value

The paper presents the EST as a novel analytical instrument in the realm of the modern IPE. This tool uniquely places technology and innovation at the forefront, parallel to economic and political spheres, to comprehend the progression of globalization. In doing so, it highlights the intertwined relationship of these structural dimensions in shaping the future of the subject of the IPE.

Keywords

Acknowledgements

The authors extend the gratitude to two anonymous reviewers and the journal’s deputy editor for their invaluable help in strengthening the manuscript’s arguments and enhancing its central contribution.

Conflict statement: The authors declare no conflicts of interest.

Citation

Vlados, C. and Chatzinikolaou, D. (2024), "The emergence of the new globalization: the approach of the evolutionary structural triptych", Journal of Global Responsibility, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JGR-04-2023-0063

Publisher

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Emerald Publishing Limited

Copyright © 2024, Emerald Publishing Limited

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