“In 1997, Rodrik warned about a possible backlash against the excesses of globalization. His new book is a great guide for the necessary policy corrections to respond to populism and preserve what’s beneficial in open trade.”
Featured in Bloomberg’s Best Books of 2017.
Not long ago, it seemed that the momentum that technology and globalization had gathered would ring the death knell for nation-states by making them irrelevant. Now, however, the nation-states seem to have revived thanks to the emergence of populists all over the globe. Dani Rodrik, who has opposed how far economic globalization was taken since almost the beginning, doesn’t parrot the populists’ ideas. Instead, he explains why technocrats and elites obsessed with hyper-globalization put significant roadblocks in the way of nations trying to achieve equity, financial stability and economic prosperity which are valid social and economic goals.
Rodrik criticizes the ardent supporters of globalization for following poor and detrimental economic practices and for ignoring the red flags that globalization was throwing up. He showcases how nation-states can keep enough independence to design their economic tactics and social contracts in a world economy that is inclusive and maintain the balance between global and national governance. He uses recent experiences of developing countries, advanced countries and the eurozone to blaze a trail using new ideas that create harmony between social inclusion, liberal democracy and technological and economic trends that aren’t equitable.
Straight Talk on Trade does a brilliant job of maneuvering through the rocky shoals of the distances between democracy, national sovereignty, and globalization. In doing so, it offers vital insights into the issues that the current world economy faces and provides a fundamental structure that we need so desperately in these times.