“the political trilemma of the world economy”

Dani Rodrik on Project Syndicate 

economic globalization, political democracy, and the nation-state are mutually irreconcilable. We can have at most two at one time. Democracy is compatible with national sovereignty only if we restrict globalization. If we push for globalization while retaining the nation-state, we must jettison democracy. And if we want democracy along with globalization, we must shove the nation-state aside and strive for greater international governance

International governance is a neat concept that is as elusive as it can get in practice. Rodrik points out how EU is learning this the hard way. But where EU is at today is an aspirational target for many other budding coalitions around the world. Will EU’s troubles discourage the rest of us? Or will we learn from their mistakes?

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