Harvard economist Dani Rodrik details the downside of hyperglobalization, and calls for a better balance between global rules and national autonomy.
by Michelle Nicholasen
For more than two decades, economist Dani Rodrik has warned about the dangers of what he has called “hyperglobalization.” He has long argued that national economies and domestic policies should have priority amidst a rising tide of unfettered globalization and open markets. Today we have some evidence that he was right. Our race toward “one world economy” has produced consequences in the form of global social inequality and populist or extremist political movements, for example. Rodrik envisions a way to keep bringing down trade barriers while maintaining the integrity of the nation-state. His latest book, Straight Talk on Trade, is a synthesis of his monthly columns for Project Syndicate, and functions as a roadmap of Rodrik’s prolific analyses. The Weatherhead Center spoke to him about his long view on world economies.... Read more about Striking a Balance: Straight Talk on the Global Economy
Political economist Marc Melitz weighs in on what the United States has to lose when trade agreements come undone.
After President Trump withdrew the United States from the Trans-Pacific Partnership (TPP) trade agreement earlier this year, it seemed that NAFTA was next in his crosshairs.
But soon President Trump is expected to take a measured approach to the issue of trade and step away—at least temporarily—from his threats to dismantle the North American Free Trade Agreement (NAFTA) by signing an executive order calling for a comprehensive study of US trade imbalances. The Trump worldview has consistently blamed foreign trade deficits, especially those with China, for job losses here at home. He has wanted to take down NAFTA to purportedly save American jobs, calling it “the single worst trade deal ever approved in this country.”... Read more about Now That TPP Is off the Table, What's Next for NAFTA?