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Policy Responses to Globalization

Policy Responses to Globalization . Background Growth of Interdependence since World War II Rising US involvement in the US economy Consequences: Race to the Bottom. Question: What to do? The Issues Sovereignty Economic performance Social Compact Citizenship Culture Democracy

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Policy Responses to Globalization

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  1. Policy Responses to Globalization

  2. Background • Growth of Interdependence since World War II • Rising US involvement in the US economy Consequences: Race to the Bottom

  3. Question: What to do? • The Issues • Sovereignty • Economic performance • Social Compact • Citizenship • Culture • Democracy • Environment • Identity

  4. Policy responsesEnthusiasmAdaptationConservative NationalismLiberal NationalismTransformationRight-wing backlash

  5. Enthusiasts • Let the market decide • As IMF director said: “Globalization must be embraced.” • US trade and investment policy reflect market orientation • US supports IMF policies abroad • Structural adjustment Neoliberalism

  6. Adaptationist • Globalization should be encouraged, but managed • Three forms:Shared austerityProgressive competitivenessInternational Keynesianism

  7. Conservative Nationalism • America First • US has plenty of labor and markets, no need for high level of trade • Free Trade agreements favor a few at the expense of the many • Close the borders and “cast down your bucket where you are” • Culture and way of life is central concern

  8. Liberal Nationalism • Social Democracy’s natural home is nation-state • Globalization threatens the gains made over many years of political struggle • Labor, environment, consumers, and communities need protection • Fair trade, not free trade; transnational organizing

  9. Transformationalist • The Problem is the System: Change ItCapitalism makes globalization undesirable • Strong ecological dimension • Cultural diversity advocatedSome alternatives: global socialism, bioregionalism, decentralized local democracy

  10. Right-wing Backlash • Globalization is part of an anti-American conspiracy • Goal of conspiracy is to establish one-world government, destroying American sovereignty • Traitors in US facilitate this projectStrong emphasis on identity as a true American: white and Christian. • Strong opposition to UN, free trade, and open immigration

  11. What is Policy? • Parameters of the debate in mainstream of parties and media: From enthusiasm to adaptation, with some voices expressing conservative and liberal nationalism • Transformation and right-wing backlash marginalized • Clinton: elements of enthusiasm and adaptation • Bush: more market-oriented Enthusiast in rhetoric, although creeping protectionism to defend business interests is present

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