Culture and Globalization Preface

The Austrian economist Joseph Schumpeter famously characterized capitalism as a process of “creative destruction.” While this phenomenon may help propel economic development, many people around the world are coming to question the impact that the worldwide expansion of the capitalist model is having on the most precious aspects of their identity.

For many people, their own cultural values are too important to put a price tag on, and no destruction can be considered “creative.”

On the other hand, globalization can also be a profoundly enriching process, opening minds to new ideas and experiences, and strengthening the finest universal values of humanity.

The question of how the protection of local or indigenous cultural values come into conflict with the forces of globalization is unchartered territory for many policymakers. Many of the questions raised pertaining to cultural issues are new