Why Doesn't Everyone Get the Case for Free Trade? "-Nouriel Roubini, coauthor of Crisis Economics: A Crash Course in the Future of Finance --, "Dani Rodrik may be globalization's most prominent-and most thoughtful-gadfly. 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. democracy and the future of the world economy, Leading scholar Dani Rodrik shows the way to a balanced prosperity as we confront today's global challenges in trade, finance, and labor markets. Blog. Chapter 4 discusses the Bretton Woods regime (“compromise”) and institutional framework and the move from the transitional General Agreement on Tariffs and Trade (GATT) (following the failed International Trade Organization) to the permanent World Trade Organization (WTO). Indeed! One economics, many recipes: Globalization, institutions, and economic growth. As a result, we run the risk that the social costs will outweigh the narrow economic gains and spark an even worse globalization backlash (p. 88). Chapter 3 briefly examines the economic reasoning underlying the purported gains from free trade, and is followed by a chapter on the creation of the international institutions—Bretton Woods, the General Agreement on Tariffs and Trade, and the World Trade Organization (WTO)—that dismantled the trade barriers that had sprung up during the interwar years and ushered in the era of shallow integration. Working off-campus? A provocative look at the excesses of hyperglobalization, The Globalization Paradox should be required reading for those who seek to prevent the financial crises and unfair trade practices that feed the backlash against open markets. All rights reserved. At one fell swoop, […], Since the revolution that took place in 1954, Egypt has had three presidents namely: Gamal Abdel Nasser, Anwar Sadat and Hosni Mubarak. Ravenhill, J.
History now seems to repeat itself if the events in East Europe and South East Asia are anything to go by. Bodies such as GATT and WTO were meant to promote global trade and help advance economic growth of the developing countries. Chapter 9, entitled the “Political Trilemma of the World Economy,” is a key chapter in the book. Furthermore, the crises that Rodrik fears can follow in the wake of financial opening have been much more frequent in developing economies that have only partially dismantled capital controls.
The book finishes with a cautionary afterword: “A Bedtime Story for Grown Ups”—the story of a little isolated fishing village . For permissions, please e-mail: firstname.lastname@example.org, Populist rhetoric, false mirroring, and the courts, Unintended consequences of prohibiting advocacy of hatred and regulating campaign finance: The weakening status of freedom of speech in Israel, The Israeli judiciary-centered constitutionalism, From promise to retrenchment: On the changing landscape of Israeli constitutionalism, About International Journal of Constitutional Law, http://www.law.qmul.ac.uk/docs/podcasts/50504.pdf, Receive exclusive offers and updates from Oxford Academic, Copyright © 2020 New York University School of Law and Oxford University Press. Professor of International Financial and Monetary Law, Centre for Commercial Law Studies, Queen Mary University of London.
Press. He recognizes the forces that have led to a dismantling of capital controls but firmly believes that checks on the unimpeded flow of capital are desirable to protect countries from shocks and the risk of contagion. This means that every time you visit this website you will need to enable or disable cookies again. These governments licensed these companies and kept monitoring their operations overseas. Company Registration Number: 61965243, Stuvia is not sponsored or endorsed by any college or university, Discovering Statistics Using IBM SPSS Statistics, Multivariate Data Analysis: Pearson International Edition, Master International Business And Economics, Strategic Management and Competitive Advantage Concepts and Cases, Global Edition - William S. Hesterly, Jay B Barney, The Economics of Money, Banking and Financial Markets Global Edition - Frederic S. Mishkin, Master International Business and Economics. Good summary of The Globalization Paradox written by Dani Rodrik. It is not apparent that development is being held back by a lack of policy space. --, From the mercantile monopolies of the seventeenth century to the WTO, IMF, and World Bank of today, globalization has hinged on rules that extend beyond nations' borders-rules that tend to raise the ire of their local opponents. Rodrik, D. (2007).
This is a timely book on an important subject for the future of the world economy. Rosa M. Lastra, The Globalization Paradox: Review of Dani Rodrik, The Globalization Paradox: Democracy and the Future of the World Economy, International Journal of Constitutional Law, Volume 11, Issue 3, July 2013, Pages 809–812, https://doi.org/10.1093/icon/mot031. Sign in and save to read later. Indeed, like a tsunami that does not respect territorial borders, the effects of a financial crisis spread beyond geographic frontiers.
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