The End of Globalization as We Know It
The tension between the unprecedented need for global collective action and a growing aspiration to rebuild political communities behind national borders is a defining challenge for today’s policymakers. And it is currently unclear whether they can reconcile the two agendas.
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PARIS – For most people, globalization has for decades been another name for across-the-board liberalization. Starting mainly in the 1980s, governments allowed goods, services, capital, and data to move across borders, with few controls. Market capitalism triumphed, and its economic rules applied worldwide. As the title of Branko Milanovic’s latest book correctly states, capitalism was finally alone.