Great Cover, Wrong Article, Part Trzy

From the comments on my first and second posts in what has become a series about the limitations of Globalization, it’s clear that some (read most) don’t really understand the point that Globalization’s dangers and threats are clearly starting to outweigh the benefits. This is a two-sided coin: the threats and costs of Globalization are growing, while the benefits are shrinking. I had, in the first post, listed many examples of this rejection of Globalization, primarily focusing on the threats and costs. However, the example cited below is a little different in two ways. First, it’s not a slogan on a sign at an anti-Globalization protest or a seemingly obscure indigenous group whose rights are being trampled–but an article published by Dani Rodrik, professor of Political Economy at Harvard.  Second, the article focuses on the dearth of benefits created by Globalization, not the costs and threats.  The article “The False Promise of Financial Liberalization” over at Project Syndicate notes:

Something is amiss in the world of finance. The problem is not another financial meltdown in an emerging market, with the predictable contagion that engulfs neighboring countries. Even the most exposed countries handled the last round of financial shocks, in May and June 2006, relatively comfortably. Instead, the problem this time around is one that relatively calm times have helped reveal: the predicted benefits of financial globalization are nowhere to be seen.