Feasible Globalizations

27 Pages Posted: 30 Aug 2002 Last revised: 13 Jun 2021

See all articles by Dani Rodrik

Dani Rodrik

Harvard University - Harvard Kennedy School (HKS); Centre for Economic Policy Research (CEPR); National Bureau of Economic Research (NBER)

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Date Written: August 2002

Abstract

The nation-state system, democratic politics, and full economic integration are mutually incompatible. Of the three, at most two can be had together. The Bretton Woods/GATT regime was successful because its architects subjugated international economic integration to the needs and demands of national economic management and democratic politics. A renewed 'Bretton-Woods compromise' would preserve some limits on integration, while crafting better global rules to handle the integration that can be achieved. Among 'feasible glablization,' the most promising is a multilaterally negotiated visa scheme that allows expanded (but temporary) entry into the advanced nations of a mix of skilled and unskilled workers from developing nations. Such a scheme would likely create income gains that are larger than all of the items on the WTO negotiating agenda taken together, even if it resulted in a relatively small increase in cross-border labor flows.

Suggested Citation

Rodrik, Dani, Feasible Globalizations (August 2002). NBER Working Paper No. w9129, Available at SSRN: https://ssrn.com/abstract=327155

Dani Rodrik (Contact Author)

Harvard University - Harvard Kennedy School (HKS) ( email )

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