It seems that globalisation heralded in the early 90s has lost its power by now. The article analyses the underlying reasons – the fight of capital groups, the reinforcement of national economy frameworks and the resistance against globalisation. According to the author, "from today's vantage point, globalization appears to have been not a new, higher phase in the development of capitalism but a response to the underlying structural crisis of this [capitalist] system of production."

UK economist Geoffry Hodgson tells his way from marxism to institutional economics and the change in academic economics from pluralism to conformism. In the 70s, representatives of a wide range of schools were present at faculties of the best universities and in addition mainstream economists also tried to address actual questions. Now, on the contrary, the wide spectrum has vanished, and parallel with the growing enthusiasm for mathematical methods economists are less interested in the validity of their models.