Future Markets Consultation

Towards a New Market Economy in Europe for Future Generations

Articles & Blogs on Globalization & Free Trade

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Is There Sufficient Room for Local Communities in a Globalized Economy?

In a recent dialogue economists Raghuram Rajan and Paul Collier both defended their view that local communities should be re-empowered again. Yet Collier called it ‘dumb’ to reverse globalization. But can we have our cake and eat it, Ilse Oosterlaken wonders. Would it not be necessary to make economies more local before local communities can thrive again?

Network Origins of the Global Economy: East vs. West in a Complex Systems Perspective

“In Network Origins of the Global Economy: East vs. West in a Complex Systems Perspective, Hilton L. Root argues for the need to consider economies and social orders as open, complex networks, focusing particularly on the transitions that have shaped Europe and China historically with implications for the present day. This original volume will not only serve as a useful textbook for university courses, but will hopefully inspire related studies exploring the social worlds behind our constantly changing economic structures, writes Gábor Bíró.”

The Trouble with “Buying Australian”

““Buy Australian” has been the catchcry from many in politics, business, trade unions and industry bodies for as long as I can remember, and Covid-19 has upped the ante. But while many groups advocate Buy Australian, one group is conspicuously absent: economists. The reason for this is counterintuitive: Buy Australian doesn’t help Australians, it hurts them, and particularly the most disadvantaged.”

International Trade Has Cost Americans Millions of Jobs. Investing in Communities Might Offset Those Losses

“Economists generally support ‘people-based’ over ‘place-based’ policies and investments. The rationale is that it’s more important to invest in workers rather than bolster a place where workers live. Economists would argue that directing public funds into regions doing poorly is akin to wasting money. The logical outcome of such policies is that towns that have lost their economic base are allowed to shrink while other economies take their place.”

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