Georgios I. Zekos, PhD
TEI of Central Macedonia, Serres, Greece; Aristotle University, Democritus University, University of Hull, University of Peloponnese, Greece

Series: Economic Issues, Problems and Perspectives
BISAC: BUS039000

21st century globalization is distinguished by institutional and political reforms in many countries such as gradual trade liberalization and international coordination of policies. This author considers globalization as a nonstop process leading to the convergence of the civilizations, lower cost of production, controlled freedom of communications, guarded advancements of technology, shrinking of distances via advanced transportation means and the economic funds utilize their powers demolishing any local lawful revolutionary efforts exploiting the globe with a fairly democratic way at present.

The global economic funds should avoid a gradually undemocratic exploitation of the globe in order to bypass/avoid a global conflict looming in the end of the road of an autocratic globalization lacking any ethical values. Moreover, globalization has created centers of power that are alongside, even in competition, with the power of states. Innovation demands extensive upfront R&D costs and strong intellectual property protection is not disconnected from competition principles, but rather, is a vital part of antitrust policy as a whole. Sound intellectual property rights protection creates the competitive environment required to allow companies to profit from their inventions, which encourages innovation efforts. (Imprint: Nova)