Resumen

DEL BUFALO, Enzo. Globalization and the Challenge for Economic Theory (First Part). Revista Venezolana de Economía y Ciencias Sociales [online]. 2005, vol.11, n.2, pp.11-33. ISSN 20030507.

This article will be published in two parts and intends to show how the different approaches in economic theory have been conditioned by the evolution of the modern economic system, from the outset and up to the present. This will presumably shed some light on the ongoing globalization process and its relationship to the Neoliberal strategy of recent decades. This first part starts with the formation of the nation-state as a consequence of the same process that gave birth to the national economy, as that space where the market is articulated to the production process. Modern economic theory was born in order to understand this relationship and recommend the appropriate policies for the national economy. This will hopefully help the reader to understand the nature of globalization and the problems that it signifies for economic theory.

Palabras clave : Nation-State; National Economy; Economic Theory; Globalization.