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

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Dani Rodrik

Translated from English by N. Endelman; under scientific editing by A. Smirnov. – M.: Gaidar Institute Press 2014. – 576 p.

ISBN 978-5-93255-388-6

From the trade monopolies of the 17th-century empires to the modern institutions of the WTO, the IMF, and the World Bank, countries around the world have used a variety of tools to benefit from the process of globalization. The economic narratives of these eras – the gold standard, the Bretton Woods regime, the Washington Consensus – were both great successes and great failures. Challenging accepted notions of globalization, Dani Rodrik offers a new narrative that points to an inherent contradiction: we cannot have democracy, the nation state, and economic globalization at the same time. When the social mechanisms of democracy inevitably collide with the demands of globalization, national interests must come to the fore. Combining fascinating historical insights with insightful economic analysis, the author argues for limiting globalization through international rules to address the global challenges we face today in trade, finance, and labor markets.