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Saving Capitalism From Itself

Brad DeLongdissenting from the idea that globalization is an unmitigated good
Which is the greatest threat to globalisation: the protesters on the streets every time the International Monetary Fund or the World Trade Organisation meets, or globalisation's cheerleaders, who push for continued market opening while denying that the troubles surrounding globalisation are rooted in the policies they advocate? A good case can be made that the latter camp presents the greater menace. ...

That is because the greatest obstacle to sustaining a healthy, globalised economy is no longer insufficient openness. ... The greatest risk to globalisation is elsewhere. It lies in the prospect that national governments' room for manoeuvre will shrink to such levels that they will be unable to deliver the policies that their electorates want and need in order to buy into the global economy. ...
UpdateJonathan Cohn