The inescapable trilemma of the world economy

Dani Rodrik dubs “the inescapable trilemma of the world economy”.

In a globalised world, a country can have economic integration, the nation-state or democratic politics, but not all three fully.

—The Economist, in ‘The tension between globalisation and democracy

It can choose integration and the nation-state but give up democratic control to technocratic, supranational institutions. It can choose integration and democracy, but give up the nation-state and disappear into supranational government. Or it can choose the nation-state and democracy by embracing impoverished autarky.

Laws, institutions, and republics

Pompey the Great would snap at magistrates who challenged him: “Cease quoting laws to those of us with swords.”

Eventually all pretense of civility was dropped and Rome was engulfed by a series of destructive civil wars that destroyed the republic once and for all.

— The Washington Post, in Perspective | This is how republics end

I hate referendums

Ultimately, the British people voted for a departure but not for a destination, which is why what really matters is allowing them to vote again on the final deal, giving them the chance to say no to an irresponsible hard Brexit that risks our economy and our jobs.

—Tim Farron, then leader of the Liberal Democrats, in 2016


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Democratic heroes

Liberal democracies, he has argued, faced with the dark menace of nationalism, need heroes if they are to rouse a positive national spirit and defeat the “sad passions” fanned by populists.

—The Economist on Emmanuel Macron in France’s victorious footballers do Emmanuel Macron a favour – France’s World Cup triumph

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Something special: George Weah

George Weah, the only African footballer to have won both the Ballon d’Or and FIFA’s World Player of the Year award, will net another prize today when he is inaugurated, after winning an election in December. His accession will also be a milestone for democracy in West Africa: it will be the first peaceful electoral transfer of power in Liberia since 1944.

From Economist Espresso, Monday 22 2018

Institutions & Development

Some countries build benign, efficient institutions that foster economic growth;
others build predatory ones that retard it.

How to fix failed states, January 12, 2017 at 02:53AM

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