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Democracy Beyond the Nation-State

7 7 14
14.11.2017

WASHINGTON, DC – According to the Harvard economist Dani Rodrik, it is impossible to have full national sovereignty, democracy, and globalization simultaneously. The concept of a “political trilemma of the world economy,” which Javier Solana also recently explored, is useful, but incomplete.

Nov 13, 2017 Marcel Fratzscher says that the German chancellor's most consequential achievement is not economic.

Nov 13, 2017 Dani Rodrik doubts that reformist politicians can win unless they come clean about the high costs of neoliberal policies.

Nov 10, 2017 Barry Eichengreen explains why monetary authorities' hard-won independence is facing powerful new challenges.

Rodrik’s argument, elaborated in his new book, is that too much globalization erodes the sovereignty of democratic nation-states, by increasingly subjecting them to economic and financial forces that may not correspond with the wishes of the domestic majority. By this logic, an authoritarian state may function better in a globalized world, because it is unconstrained by, say, electoral concerns.

With less globalization, democratic decision-making within the nation-state would be less constrained by external forces – particularly financial markets – meaning that its scope would be wider. Globalization and democracy, without the nation-state, is also possible, though Rodrik is........

© Project Syndicate