Dani Roderik: The Globalization Paradox December 2011 WRR

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Outline Capitalism as an evolving, self-reinventingsystem The political trilemma of the world economy Options for the Eurozone The “subtle” tension between globalization anddemocracy
The evolution of capitalism: version 1.0 Adam Smith’s s insight: the market is the most creativeand dynamic economic engine known to man Textbook renditions (still common) presume it requires aminimal state National defense, protection of property rights, and theadministration of justice Not necessarily Adam Smith’s s own view Corresponds to the 19 th century “liberal” view andtoday’s s libertarian vision A vision of markets that are separate and disembedded frompolitics
Page 1: The Globalization ParadoxDani Rodri
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 and 18: The political trilemma of the world
Page 19 and 20: The subtle tension between democrac
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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