We Need To Get Better At Globalization, Or The Discontented Masses Will Put An End To It

burma protest

Photo: Wikimedia Commons

This post originally appeared at Project Syndicate.¬†The World Economic Forum’s annual gathering is normally little more than a toast to the benefits of increasing global GDP, trade, and investment. But this year’s meeting comes at a time when economic expansion can no longer be taken for granted, and when the uneven benefits of past growth are sparking mass social unrest.

So it is little wonder that doomsday scenarios about the “seeds of dystopia” and the risks of “rolling back the globalization process” are being dangled in Davos. The world’s economic and political leaders stand warned: do globalization¬†better, or it will be derailed by the growing legions of the discontented.

Leaders would be unwise to ignore this warning. Discussions in Davos must go beyond how to rectify the imbalances in developed countries’ debt-to-GDP ratios. They must finally pay attention to the wider imbalances generated by unfettered globalization.

Read the rest of the article at Project Syndicate. 

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