--- title: "Meaning & Key Takeaway of: Unlike national markets, which tend to be…" description: "\"Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There..." image: "https://sms4smile.com/quotes/i/66a/dani-rodrik-61932_courses_unlike-national-markets-which-tend-to-be_503826.jpg" --- # Unlike national markets, which tend to be supported by… ![“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…” quote by Dani Rodrik](https://sms4smile.com/quotes/i/66a/dani-rodrik-61932_courses_unlike-national-markets-which-tend-to-be_503826.jpg) [Download](https://sms4smile.com/quotes/i/66a/dani-rodrik-61932_courses_unlike-national-markets-which-tend-to-be_503826.jpg) [Open image](https://sms4smile.com/quotes/i/66a/dani-rodrik-61932_courses_unlike-national-markets-which-tend-to-be_503826.jpg) > “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](https://sms4smile.com/quotes/author/dani-rodrik/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Global markets lack a unified regulatory framework, making them vulnerable to instability and lacking democratic legitimacy. **In simple terms:** World markets are weakly governed and unstable. Key Takeaway Advocate for stronger international institutions to stabilize markets. Themes globalization governance instability democracy economics Mood analytical critical Type economic political When to use this quote - policy making - financial regulation - international trade negotiations - economic forecasting Key Concepts regulatory coordination institutional design Questions to Reflect On - What mechanisms could improve global market oversight? - Can democratic legitimacy be built without a global state? A Different Perspective Achieving global governance is politically challenging. ★ ★ ★ ★ ★ No ratings yet [Democracy](https://sms4smile.com/quotes/about/democracy/) [Global market](https://sms4smile.com/quotes/about/global-market/) [Governance](https://sms4smile.com/quotes/about/governance/) [Instability](https://sms4smile.com/quotes/about/instability/) [Institutions](https://sms4smile.com/quotes/about/institutions/) [Investing](https://sms4smile.com/quotes/about/investing/) [K Pop](https://sms4smile.com/quotes/about/k-pop/) [Last resort](https://sms4smile.com/quotes/about/last-resort/) [Legitimacy](https://sms4smile.com/quotes/about/legitimacy/) [Political](https://sms4smile.com/quotes/about/political/) [Political institutions](https://sms4smile.com/quotes/about/political-institutions/) [Politics](https://sms4smile.com/quotes/about/politics/) [Resorts](https://sms4smile.com/quotes/about/resorts/) [Safety](https://sms4smile.com/quotes/about/safety/) [Safety net](https://sms4smile.com/quotes/about/safety-net/) [Suffering](https://sms4smile.com/quotes/about/suffering/) ## Related quotes > [The US two party system is very different, of course. Here the people decides about who should rule them, but it is not reasonable…](https://sms4smile.com/quotes/torbjorn-tannsjo/the-us-two-party-system-is-very-different-of-course-here-the-people/) [Torbjorn Tannsjo](https://sms4smile.com/quotes/author/torbjorn-tannsjo/) > [National markets are held together by shared values and confidence in certain minimum standards. But in the new global market, people do not yet…](https://sms4smile.com/quotes/kofi-annan/national-markets-are-held-together-by-shared-values-and-confidence-in/) [Kofi Annan](https://sms4smile.com/quotes/author/kofi-annan/) > [Ultimately, I believe - because energy is so central to our lives - that a common global project to rewire the world with clean…](https://sms4smile.com/quotes/ross-gelbspan/ultimately-i-believe-because-energy-is-so-central-to-our-lives-that-a/) [Ross Gelbspan](https://sms4smile.com/quotes/author/ross-gelbspan/) > [It is quite possible that we will soon come to live under some sort of global despotism, enlightened or not. This is not a…](https://sms4smile.com/quotes/torbjorn-tannsjo/it-is-quite-possible-that-we-will-soon-come-to-live-under-some-sort/) [Torbjorn Tannsjo](https://sms4smile.com/quotes/author/torbjorn-tannsjo/) > [A global democracy works only when countries trust one another.](https://sms4smile.com/quotes/armstrong-williams/a-global-democracy-works-only-when-countries-trust-one-another/) [Armstrong Williams](https://sms4smile.com/quotes/author/armstrong-williams/) > [Contrary to the received wisdom, global markets are not unregulated. They are regulated to produce inequality.](https://sms4smile.com/quotes/kevin-watkins/contrary-to-the-received-wisdom-global-markets-are-not-unregulated/) Kevin Watkins > [In Germany it is good if as many people as possible join initiatives and peaceful demonstrations against the rule of the financial markets. Worshipping…](https://sms4smile.com/quotes/sigmar-gabriel/in-germany-it-is-good-if-as-many-people-as-possible-join-initiatives/) [Sigmar Gabriel](https://sms4smile.com/quotes/author/sigmar-gabriel/) > [Global markets have a much bigger effect on prices and wages in the U.S. and elsewhere than they did before.](https://sms4smile.com/quotes/kenneth-rogoff/global-markets-have-a-much-bigger-effect-on-prices-and-wages-in-the-u/) [Kenneth Rogoff](https://sms4smile.com/quotes/author/kenneth-rogoff/) > [Global markets must be balanced by global values such as respect for human rights and international law, democracy, security and sustainable economic and environmental…](https://sms4smile.com/quotes/anna-lindh/global-markets-must-be-balanced-by-global-values-such-as-respect-for/) [Anna Lindh](https://sms4smile.com/quotes/author/anna-lindh/) > [ I think the global markets will probably be selling off with a \[Donald\] Trump presidency because he has promised to re-do trade deals. ](https://sms4smile.com/quotes/maria-bartiromo/i-think-the-global-markets-will-probably-be-selling-off-with-a-donald/) [Maria Bartiromo](https://sms4smile.com/quotes/author/maria-bartiromo/) > [I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social…](https://sms4smile.com/quotes/george-soros/i-think-there-s-a-lot-of-merit-in-an-international-economy-and-global/) [George Soros](https://sms4smile.com/quotes/author/george-soros/) > [Economically, we can work towards a zero tariff deal with our E.U. friends and then enjoy the freedom to open up global markets for…](https://sms4smile.com/quotes/suella-braverman/economically-we-can-work-towards-a-zero-tariff-deal-with-our-e-u/) [Suella Braverman](https://sms4smile.com/quotes/author/suella-braverman/) > [The decision-making process in the White House does not let most issues get up to the President. The Council thought opening up global markets…](https://sms4smile.com/quotes/joseph-stiglitz/the-decision-making-process-in-the-white-house-does-not-let-most/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [GE's businesses turned in a terrific first quarter. Our products and services are being well received in unusually robust global markets.](https://sms4smile.com/quotes/jack-welch/ge-s-businesses-turned-in-a-terrific-first-quarter-our-products-and/) [Jack Welch](https://sms4smile.com/quotes/author/jack-welch/) > [“In the twenty-first century, the winners will be those who stay ahead of the change curve, constantly redefining their industries, creating new markets, blazing…](https://sms4smile.com/quotes/rowan-gibson/in-the-twenty-first-century-the-winners-will-be-those-who-stay-ahead/) [Rowan Gibson](https://sms4smile.com/quotes/author/rowan-gibson/) ## More by Dani Rodrik > [“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…](https://sms4smile.com/quotes/dani-rodrik/the-economics-we-need-is-of-the-seminar-room-variety-not-the-rule-of/) [Dani Rodrik](https://sms4smile.com/quotes/author/dani-rodrik/) > [“At any rate, the lesson from history seems to be that continued globalization cannot be taken for granted. If its consequences are not managed…](https://sms4smile.com/quotes/dani-rodrik/at-any-rate-the-lesson-from-history-seems-to-be-that-continued/) [Dani Rodrik](https://sms4smile.com/quotes/author/dani-rodrik/) > [What determines success in industrial policy is not the ability to pick winners but the capacity to let the losers go.](https://sms4smile.com/quotes/dani-rodrik/what-determines-success-in-industrial-policy-is-not-the-ability-to/) [Dani Rodrik](https://sms4smile.com/quotes/author/dani-rodrik/) > [“If economics were only about profit maximization, it would be just another name for business administration. It is a social discipline, and society has…](https://sms4smile.com/quotes/dani-rodrik/if-economics-were-only-about-profit-maximization-it-would-be-just/) [Dani Rodrik](https://sms4smile.com/quotes/author/dani-rodrik/) [Explore all 5 Dani Rodrik quotes ](https://sms4smile.com/quotes/author/dani-rodrik/) ## More Courses quotes > [If ever I did a man any goodof course it was something exceptional and insignificant compared with the good or evil which I am…](https://sms4smile.com/quotes/henry-david-thoreau/if-ever-i-did-a-man-any-goodof-course-it-was-something-exceptional/) [Henry David Thoreau](https://sms4smile.com/quotes/author/henry-david-thoreau/) > [Our critical day is not the very day of our death; but the whole course of our life.](https://sms4smile.com/quotes/john-donne/our-critical-day-is-not-the-very-day-of-our-death-but-the-whole/) [John Donne](https://sms4smile.com/quotes/author/john-donne/) > [ Bernie \[Ecclestone\] is the commercial rights holder so the more outgoing the champion is, the better. Of course. I also do think about our… ](https://sms4smile.com/quotes/bernie-ecclestone/bernie-ecclestone-is-the-commercial-rights-holder-so-the-more/) [Bernie Ecclestone](https://sms4smile.com/quotes/author/bernie-ecclestone/) > [The prediction of nuclear winter is drawn not, of course, from any direct experience with the consequences of global nuclear war, but rather from…](https://sms4smile.com/quotes/carl-sagan/the-prediction-of-nuclear-winter-is-drawn-not-of-course-from-any/) [Carl Sagan](https://sms4smile.com/quotes/author/carl-sagan/) > [We are always saying: Let the Law take its Course but what we really mean is: Let the Law take OUR Course.](https://sms4smile.com/quotes/will-rogers/we-are-always-saying-let-the-law-take-its-course-but-what-we-really/) [Will Rogers](https://sms4smile.com/quotes/author/will-rogers/) > [Men generally decide upon a middle course, which is most hazardous, for they know neither how to be entirely good nor entirely bad.](https://sms4smile.com/quotes/niccolo-machiavelli/men-generally-decide-upon-a-middle-course-which-is-most-hazardous-for/) [Niccolo Machiavelli](https://sms4smile.com/quotes/author/niccolo-machiavelli/) > [I earn my living by teaching film, mostly filmmaking but also teaching courses on current cinema. I'm interested in movies. I hope that's not…](https://sms4smile.com/quotes/thom-andersen/i-earn-my-living-by-teaching-film-mostly-filmmaking-but-also-teaching/) [Thom Andersen](https://sms4smile.com/quotes/author/thom-andersen/) > [The wisdom of our actions in the first three years of peace will determine the course of world history for half a century.](https://sms4smile.com/quotes/henry-a-wallace/the-wisdom-of-our-actions-in-the-first-three-years-of-peace-will/) [Henry A. Wallace](https://sms4smile.com/quotes/author/henry-a-wallace/) > [To divide one's life by years is of course to tumble into a trap set by our own arithmetic. The calendar consents to carry…](https://sms4smile.com/quotes/clifton-fadiman/to-divide-one-s-life-by-years-is-of-course-to-tumble-into-a-trap-set/) [Clifton Fadiman](https://sms4smile.com/quotes/author/clifton-fadiman/) > [You can’t bake a cake without getting the kitchen messy. Halfway through surgery it looks like there’s been a murder in the operating room.…](https://sms4smile.com/quotes/price-pritchett/you-can-t-bake-a-cake-without-getting-the-kitchen-messy-halfway/) [Price Pritchett](https://sms4smile.com/quotes/author/price-pritchett/) > [ Leave a cavity behind the \[wall\] facings, and on the inside build walls two feet thick, made of red dimension stone or burnt brick… ](https://sms4smile.com/quotes/marcus-vitruvius-pollio/leave-a-cavity-behind-the-wall-facings-and-on-the-inside-build-walls/) [Marcus Vitruvius Pollio](https://sms4smile.com/quotes/author/marcus-vitruvius-pollio/) > [Of course it does on opening night, but I've never had that devastating stage fright that some people get, but apparently, you can develop…](https://sms4smile.com/quotes/joan-collins/of-course-it-does-on-opening-night-but-i-ve-never-had-that/) [Joan Collins](https://sms4smile.com/quotes/author/joan-collins/) > [I studied philosophy and ended on sociology. For some reason, all the advanced courses in philosophy were offered 4:30 to 6:30, so I could…](https://sms4smile.com/quotes/lawrence-jackson/i-studied-philosophy-and-ended-on-sociology-for-some-reason-all-the/) [Lawrence Jackson](https://sms4smile.com/quotes/author/lawrence-jackson/) > [There is no one who can change My course or affect My conduct to the slightest extent. I am the Master over all.](https://sms4smile.com/quotes/sathya-sai-baba/there-is-no-one-who-can-change-my-course-or-affect-my-conduct-to-the/) [Sathya Sai Baba](https://sms4smile.com/quotes/author/sathya-sai-baba/) > [In the course of our eternal existence, we spend infinitely more time in the spirit world on the other side than we spend in…](https://sms4smile.com/quotes/sylvia-browne/in-the-course-of-our-eternal-existence-we-spend-infinitely-more-time/) [Sylvia Browne](https://sms4smile.com/quotes/author/sylvia-browne/) Browse all 6,995 Courses quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "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.", "creator": { "@type": "Person", "name": "Dani Rodrik" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/dani-rodrik/unlike-national-markets-which-tend-to-be-supported-by-domestic/", "about": { "@type": "Thing", "name": "Courses" }, "@id": "https://sms4smile.com/quotes/dani-rodrik/unlike-national-markets-which-tend-to-be-supported-by-domestic/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/66a/dani-rodrik-61932_courses_unlike-national-markets-which-tend-to-be_503826.jpg", "contentUrl": "https://sms4smile.com/quotes/i/66a/dani-rodrik-61932_courses_unlike-national-markets-which-tend-to-be_503826.jpg", "url": "https://sms4smile.com/quotes/i/66a/dani-rodrik-61932_courses_unlike-national-markets-which-tend-to-be_503826.jpg", "width": 1080, "height": 1080, "caption": "“Unlike national markets, which tend to be supported by domestic regulatory and political institutions…” — Dani Rodrik", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Dani Rodrik", "item": "https://sms4smile.com/quotes/author/dani-rodrik/" }, { "@type": "ListItem", "position": 4, "name": "Unlike national markets, which tend to...", "item": "https://sms4smile.com/quotes/dani-rodrik/unlike-national-markets-which-tend-to-be-supported-by-domestic/" } ], "@id": "https://sms4smile.com/quotes/dani-rodrik/unlike-national-markets-which-tend-to-be-supported-by-domestic/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```