The Globalization Paradox: Democracy and the Future of the World Economy

About this book

Surveying three centuries of economic history a Harvard professor argues for a leaner global system that puts national democracies front and center. From the mercantile monopolies of seventeenth-century empires to the modern-day authority of the WTO IMF and World Bank the nations of the world have struggled to effectively harness globalizations promise. The economic narratives that underpinned these erasthe gold standard the Bretton Woods regime the "Washington Consensus"brought great success and great failure. In this eloquent challenge to the reigning wisdom on globalization Dani Rodrik offers a new narrative one that embraces an ineluctable tension: we cannot simultaneously pursue democracy national self-determination and economic globalization. When the social arrangements of democracies inevitably clash with the international demands of globalization national priorities should take precedence. Combining history with insight humor with good-natured critique Rodriks case for a customizable globalization supported by a light frame of international rules shows the way to a balanced prosperity as we confront todays global challenges in trade finance and labor markets.