The belief that national economies and cultures are dissolving before the great flows of trade, finance and information, leaving in their wake an increasingly homogenised, global market society, has become part of the common sense of educated people. It is now widely believed that nations, companies and individuals no longer have any choice but to adapt to intensifying global competitive pressures. All that states can do, if they are not to disadvantage their citizens, is to help make their territory attractive to internationally mobile capital.
For the past decade, belief in globalisation has been spreading among academics, media commentators and…
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