Dani Roderik: The Globalization Paradox December 2011 WRR

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<strong>The</strong> EU’s s dilemma Main point: economic union requires political union EU needs either more political union… If it wants single market … or less economic union If it is unable to achieve political integration
<strong>The</strong> subtle tension between democracyand globalization (1) Hyperglobalization => full economic integration =>absence of transaction costs on international trade andfinance Implications for nation-states cannot impose restrictions on goods, services, and assets at theborder must harmonize monetary, legal, and regulatory regimes so as tominimize transaction costs that arise from jurisdictionaldiscontinuities must credibly pre-committo not deviating from those harmonizedregimes
Page 1 and 2: The Globalization ParadoxDani Rodri
Page 3 and 4: The evolution of capitalism: versio
Page 5 and 6: The evolution of capitalism: versio
Page 7 and 8: The history of globalization viewed
Page 9 and 10: The history of globalization viewed
Page 11 and 12: The fundamental problem of the worl
Page 13 and 14: The political trilemma of theworld
Page 15 and 16: Implications of EU’s s incomplete
Page 17: The political trilemma of the world
Page 21 and 22: Globalization can enhance democracy
Page 23 and 24: The regional/global governancealter
Page 25: Global governance light A set of tr

Dani Roderik: The Globalization Paradox December 2011 WRR

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