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

3.92 of 5 stars 3.92  ·  rating details  ·  295 ratings  ·  22 reviews
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 globalization's promise. The economic narratives that underpinned these eras—the gold standard, the Bretton Woods regime, the "Washington Consensus"—brought great succes ...more
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Published February 21st 2011 by W. W. Norton & Company (first published December 23rd 2010)
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Alex
Rodrik configures a triangle: "hyperglobalization," democracy and national self-determination--and posits that only two of the three corners of the triangle can hold. Given the impossibility of a system of global governance, the choice is either to eliminate democracy and ignore domestic interests in favor of a global laissez-faire economic policy with liberalized trade as well as finance, or to reduce the ambitions of globalization, being content with the liberalization of trade to date and slo ...more
Jonathan Biddle
Rodrick's trilemma states that we cannot simultaneously pursue democracy, national determination, and economic globalization. We can hold a maximum of two factors at the same time. Holding onto democracy and economic globalization and elimination the nation state is the ideal solution. In this scenario, everything from labor to goods to capital flows would be released to move freely without barriers. A world economy functioning as the United States would be much more efficient at distributing la ...more
Zöe Yu
Well written. One important point, from all the other political books, this book is outstandingly clear and to the point.
Kirsten
This book is pretty much what my macroeconomics professor was trying to teach me, but much more interesting. The author does a nice job explaining some very complex topics in a way the lay reader can understand.
Kevin Christensen
This review has been hidden because it contains spoilers. To view it, click here.
Jorge Flores Kelly
A must read. It is a far reaching evolution from his thoughts and previous books on trade and financial liberalization. In many ways really makes you think what the true challenges of globalization are. Based on a Mundell-Fleming style modeling brings up the issue that we cannot simultaneously pursue democracy, national self-determination and "hyperglobalization". From his point of view only two out of three are possible or melt down will turn out to be the outcome sooner than later. For Rodrik ...more
Dawei Liu
Rodrik gives a nuanced and well researched argument into why he believes unfettered globalization in its current form doesn't make sense. He presents his argument well and overall, I supported his viewpoint. Most of the chapters in this book are well-written, however,Rodrik's biggest problem is the way in which he attacks other academics(especially fellow economists) and commits a large part of the book into a huge "I told you so". This sort of polemical argument draws away from this central the ...more
Jeffrey Cavanaugh
Rodrick argues here that globalization faces a trilateral dilemma that is irresolvable - that, as a global society, we cannot simultaneously have sovereign states, national democracy, and hyper-integrated global markets in trade and capital. At best, we can have two, but to do so we have to give up the benefits of one. That means globalization's future, if we continue down the path of further economic integration, is one where we have to give up on national sovereignty or political democracy - n ...more
Francisco Luis
Interesante reflexión de quien otrora fuera miembro de la Escuela de Chicago, sobre la necesidad de establecer un sistema de gobernanza económica mundial. Reivindica el papel de los Estados contra la hiperglobalización y algunas ideas interesantes y otras provocativas, como la que hace referencia a cómo ajustar los procesos migratorios para crear riqueza a nivel mundial y reducir el gap de sus países de origen con respecto a los receptores, mediante procesos temporales de inmigración. Sin duda, ...more
Jack
Economics isn't really my thing, but this book is important. Rodrik offers a take of globalization that more people should appreciate. Plainly, this thing has cost the world a lot over the past couple of years - the ideas of the neoliberals have not panned out the way they told us it all would. But to think global governance can be implemented to watch over the globalizers is a mistake too. Rodrik tells us to return more control to the nation-states and their people to determine for themselves w ...more
Panos
In a nutshell, some common sense regarding economic policy and a lucid analysis for the dillemas globalization challenges us with.

Rodrik's economic philosophy, as best illustrated in "One Economics Many Recipes", is coupled with insights on democrasy, the role of the state, international governance and the ways globalization shapes the relationships between these conflicting, at times, institutions.

Highly recommended.
Marc Chéhab
A wonderful book, beautifully argued and highly relevant. I have a little bit of a background in international political economy and economic history, so I would add that I suggest other books for a general overview: Frieden, Global Capitalism, and Eichengreen, The Globalization of Capital. Rodrik I think shouldn't be read for history, but for the framework he provides.
Paul Heidebrecht
Best work on globalization I have read. Economics is a complicated narrative without simple solutions. So is globalization. It will always be good for some and bad for others. States will struggle to adapt. You can't always have democracy and success in the market. But strong national governments are essential to survival and progress. Sorry, small government lovers.
Dave Peticolas
Rodrik presents economic globalization as a trilemma: amongst democracy, high-levels of globalization, and nation states, you can pick any two. And since we're unlikely to see the end of the last, and we don't want to give up the first, globalization in its more extreme forms will have to go.
Dev Scott Flores
As important for me as Jeffrey Sach's "End of Poverty" - the economic equivalent of the Buddhist "Middle Way," Rodrik proposes balanced governance development against the free market imperatives of hyperglobalization to bridge the divide between the haves and have nots of the world.
Cem
A MUST-READ for anyone interested in development economics and international political economy. A realistic wake-up call for extremists and 'hedgehogs'... Rodrik is simply brilliant...
Pierpaolo Mangeruga
This book finally allowed me to understand what globalization is. Without Globalization we shouldn't grow, with Globalization we are now facing a lot of problem to be fixed soon.
Stanislaw Urmanski
Interesting book on how to organize global trade and economy in general, using the knowledge we have because of the crisis 2008.
Greg
Rodrik takes his work on globalization and boils it down for the lay reader. It's thoughtful and persuasive.
Till Schreiber
started relatively strong, but then too much institutional speculation about global government
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Dani Rodrik is the Rafiq Hariri Professor of International Political Economy at the John F. Kennedy School of Government at Harvard University. He lives in Cambridge, Massachusetts.
More about Dani Rodrik...
One Economics, Many Recipes: Globalization, Institutions, and Economic Growth Has Globalization Gone Far Enough? In Search of Prosperity: Analytic Narratives on Economic Growth The New Global Economy and Developing Countries: Making Openness Work Handbook of Development Economics

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“The economics we need is of the "seminar room" variety, not the "rule-of-thumb" kind. It is an economics that recognizes its limitations and caveats and knows that the right message depends on the context. The fine print is what economists have to contribute.” 4 likes
“If economics were only about profit maximization, it would be just another name for business administration. It is a social discipline, and society has other means of cost accounting besides market prices.” 4 likes
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