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Argument: Global governance will make governing free trade possible

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Global governance will allow improved economic integration and living standards

  • Martin Wolf, Why Globalization Works?. Yale University Press. 2004. ISBN 0-300-10777-3. pp 4. - "The view that the present political division of human is natural and inevitable is nonsensical. The parallel idea that each unit should be economically self-sufficient is equally absurd. Today's states are arbitrary prodcuts of recent history. The logical destination of a movement dedicated to self-sufficiency must be the atomization of humanity, perhaps into family bands. This would be back to the future with a vengeance - back to the mesolithic period.
It cannot make sense to fragment the world economy more than it already is, but rather to make the world economy work as if it were the United States, or at least the European Union. Is this impossible? No. Is it undesirable? Again, no. The failure of our world is not that there is too much globalization, but that there is too little. The potential for greater economic integration is barely tapped. We need more global markets, not fewer, if we want to raise the living standards of the world poor of the world. Social democrats, classical liberals and democratic conservatives should unite to preserve and improve the liberal global economy against the enemies mustering both outside and inside the gates. That is the central argument of this book."
  • “Poverty in an Age of Globalization “, The World Bank ,October 2000 “Good governance has emerged as one of the most important prerequisites for development. This is both because of the role of government as a builder and provider of institutions, and because the failure of governance can lead to an overall political breakdown.Once a country becomes a “failed state” (Yugoslavia, several African countries) development can be set back by decades. Weak governance has been an overriding characteristic of the poorest performing economies. Globalization has put a premium on good governance, because of the need to put in place policies and institutions demanded by an increasingly competitive global market place, because of pressures on governments to be transparent and more accountable to their citizens, and because of the higher costs of mismanagement.”


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