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Tag Archives: Globalisation

Asymmetric Protectionism

Imperialism and free-trade is the most important reason for why some countries are rich and others poor. Because of the principle of circular and cumulative causation, they rarely catch up. Poor countries aren’t “underdeveloped”—it’s a misleading word—they’re exploited. Hence there’s a need for global rules to allow for convergence of fortunes of nations. The current rules of globalisation lead to polarisation and welfare of a few, not the many.I recently recommended Ha-Joon Chang’s lecture...

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UK Elections 2019 And Brexit

The nicest prison in the whole world fought an election to become the Prime Minister of the UK ?? and lost. Jeremy Corbyn isn’t just a nice person but the politician with the best politics, not just in the current times, but maybe ever. And he ran the most compassionate campaign and appealed to a lot of voters.Jeremy Corbyn with El GatoIt looks like Brexit was a huge factor in the election. In many constituencies Labour has always won since almost 100 years and has now suffered losses. So...

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Michael Hardt And Antonio Negri — Empire, Twenty Years On

Michael Hardt And Antonio Negri — Empire, Twenty Years OnThe latest issue of New Left Review is out. Has an interesting article by Michael Hardt and Antonio Negri on how globalisation isn’t dying but just shifting to a path where global powers want to change it to their advantage. Again!Twenty years ago, when our book Empire first appeared, the economic and cultural processes of globalization occupied centre stage: all could see that some kind of new world order was emerging. Today...

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On The Fall Of The Liberal International Economic Order, Part II

In the last post, I linked to John J. Mearsheimer’s paper Bound To Fail: The Rise And Fall Of The Liberal International Order. The paper was more from a political perspective than from a perspective of political economy, although it did go into the economics of it.There’s a Post-Keynesian paper by Thomas Palley published last year, I thought I should recommend reading, since it goes into the political economy aspect of it. Also it is rooted more in the heterodox Keynesian perspective, unlike...

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Paul Krugman’s Mea Culpa On Globalisation

Last year, Paul Krugman had an article on globalisation and how he got it wrong. Of course, typically, the ones doing mea culpa rarely admit it that they were totally wrong and spin it the way which is most opportunistic. I had a post on it.Recently Bloomberg published an excerpt from it.Noam Chomsky wrote a book Profit Over People in 1999 with an Introduction by Robert McChesney who had a fanstastic description of globalisation:And nowhere is the centrality of governments and policymaking...

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Thomas Piketty On Globalisation And Borders

Thomas Piketty has an interesting observation on globalisation and migration/borders.From slide 11 from a lecture from July (and in earlier talks too):Why is rising inequality not leading to rising demand for redistribution?One possible explanation: globalisation & competitition between countries make vertical redistribution more difficult to organize.I.e. if the only thing the modern nation-state can do is to control borders, then unsurprisingly the political conflict will be entirely...

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Dani Rodrik — Globalization’s Wrong Turn And How It Hurt America

Dani Rodrik — Globalization’s Wrong Turn And How It Hurt AmericaSome comments on globalisation by Bill Clinton and Tony Blair caught my attention in a recent article by Dani Rodrik for Foreign Affairs:Globalization, exclaimed U.S. President Bill Clinton, “is the economic equivalent of a force of nature, like wind or water.” British Prime Minister Tony Blair mocked those who wanted to “debate globalization,” saying, “you might as well debate whether autumn should follow summer.”Rodrik’s...

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Pierre Kohler And Francis Cripps — Do Trade And Investment (Agreements) Foster Development Or Inequality?

Pierre Kohler And Francis Cripps — Do Trade And Investment (Agreements) Foster Development Or Inequality?A recent UNCTAD/GDAE working paper. Abstract:This paper proposes to revisit the debate on trade and investment agreements (TIAs), development and inequality, looking at the role of Global Value Chains (GVCs) and transnational corporations (TNCs). It first presents stylized facts about trade and investment (agreements), declining global economic growth and rising inequality under the latest...

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Jason Hickel Features On Citations Needed

Jason Hickel Features On Citations NeededThe latest episode Neoliberal Optimism Industry of the podcast Citations Needed features Jason Hickel, who has done a lot of work to bust the narrative of the World Bank on poverty.Excerpt:Jason Hickel: So Gates is sort of the forefront of this aid narrative and the way that I see this as problematic is because it effectively ends up obscuring the real causes of the problems that are at stake. Right? So we’re all concerned about global poverty and...

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Angela Nagle — The Left Case Against Open Borders

Angela Nagle — The Left Case Against Open BordersAngela Nagle writing for American Affairs:The destruction and abandonment of labor politics means that, at present, immigration issues can only play out within the framework of a culture war, fought entirely on moral grounds. In the heightened emotions of America’s public debate on migration, a simple moral and political dichotomy prevails. It is “right-wing” to be “against immigration” and “left-wing” to be “for immigration.” But the economics...

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