'Globalization' is one of the key concepts of our time. It is used by both the right and the left as the cornerstone of their analysis of the international economy and polity. In both political and academic discussions, the assumption is commonly made that the process of economic globalization is well under way and that this represents a qualitatively new stage in the development of international capitalism. But is there in fact such a thing as a genuinely global economy? Globalization in Question investigates this notion, providing a very different account of the international economy and stressing the possibilities for its continued and extended governance. The new edition of this best-selling text has been thoroughly revised, updated and expanded to take into account new issues which have become salient in the period since the first edition was published, including the impact of the internationalization of economic relations on the welfare state; the various debates about the concept of 'competitiveness'; the Asian crisis; and the relationships between the North and the South in terms of their effects on wage rates and living standards. Globalization in Question, Second Edition, is a timely intervention into current discussions about the nature and prospects of globalization. This book has far-reaching implications which will be of interest to students and academics in a number of disciplines including politics, sociology, economics and geography, as well as to journalists and policy-makers.