Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There is no global lender of last resort, no global safety net, and of course, no global democracy. In other… — Dani Rodrik Copy Share
Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There is no global lender of last resort, no global safety net, and of course, no global democracy. In other words, global markets suffer from weak governance, and are therefore prone to instability, inefficiency, and weak popular legitimacy. — Dani Rodrik Copy Share
“The economics we need is of the "seminar room" variety, not the "rule-of-thumb" kind. It is an economics that recognizes its limitations and caveats… — Dani Rodrik Copy Share Image
“At any rate, the lesson from history seems to be that continued globalization cannot be taken for granted. If its consequences are not managed… — Dani Rodrik Copy Share Image
What determines success in industrial policy is not the ability to pick winners but the capacity to let the losers go. — Dani Rodrik Copy Share Image
“If economics were only about profit maximization, it would be just another name for business administration. It is a social discipline, and society has… — Dani Rodrik Copy Share Image
