More notes on the Globalization Paradox

Democracy is incompatible with deep globalization, argues R because when it comes down to it, the people are not willing to accept the austerity that globalization demands (p. 188). Seems to be what is happening right now in Greece, Italy, etc. The people simply vote out anyone trying to impose austerity measures.

The nation state still rules

Designing capitalism 3.0
1. Markets must be embedded in governments. The two work best tgoether
2. The nation state rules, so strengthen government at home instead of attempting to develop a global governance
3. Prosperity is diverse and different countries reach it in different ways
4. let countries protect their own social systems. Trade does not trump all. countries have to make decisions that make sense given their values
5. Do not impose institutions on other countries but it is okay to uphold them within your own borders
6.international institutions should be used to enable traffic and communication between nations
7. All of these rules only work in democratic countries where we can generally assume that the citizens are getting what they desire. Non-democratic states have to play by different rules

The international economy is not analogous to climate change. Nation states economic policies do not permeate the world