Global markets suffer from weak governance and are therefore prone to instability, inefficiency, and weak popular legitimacy…. If you want more and better markets, you have to have more (and better) governance. Markets work best not where states are weakest, but where they are strong.... Even though it is possible to advance both democracy and globalization…this requires the creation of a global political community that is vastly more ambitious than anything we have seen to date or are likely to experience soon. It would call for global rule making by democracy…. Democracies have the right to protect their social arrangements, and when this right clashes with the requirements of the global economy, it is the latter that should give way.
Dani Rodrik, The Globalization Paradox: Democracy and the Future of the World Economy
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