Abstract

I consider four waves of globalization. The first is Commercial Capitalism, following the voyages of Columbus and Da Gama. The second is Industrial Capitalism, following the industrial revolution led by the steam engine and mechanization. The third is the Era of Convergence, following the end of the European empires after World War II. The fourth is the New Globalization marked by three decisive trends: the relative rise of Asia, the Information Revolution, and the stark crises of Planetary Boundaries. I argue that modern globalization must urgently establish a new moral basis and the cultivation of virtues in order to achieve Sustainable Development.