The False Economic Promise of Global Governance
The claim that the world needs stronger global governance is so widely accepted today that challenging it may seem like arguing that the sun revolves around the earth. But what may be true for genuinely global problems such as climate change or health pandemics is not true for most economic issues.
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CAMBRIDGE – Global governance is the mantra of our era’s elite. The surge in cross-border flows of goods, services, capital, and information produced by technological innovation and market liberalization has made the world’s countries too interconnected, their argument goes, for any country to be able to solve its economic problems on its own. We need global rules, global agreements, global institutions.