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Towards a New Political Economy of Globalization
June 6, 2017
On June 6, 2017, a small group of IGLP Faculty convened at Harvard Law School for the launch of IGLP’s new research initiative, “The New Political Economy of Globalization.” This preliminary discussion helped to shape a multi-year, multi-disciplinary research agenda for the initiative.
Primarily, this meeting grappled with ideas around Rethinking the Trade and Investment Law Regime. The discussions were motivated by a sense that the machinery defining – and seeking to manage — global political economy is broken. Authoritarian nationalists press for deglobalization while liberal elites struggle to maintain a crumbling global order. Conversations at the meeting addressed the need for a new vision able to overcome the limits of the complex of liberal arrangements now in place without succumbing to the lures of ethnic and authoritarian nationalism.
Discussants questioned how to:
- facilitate capital flows without giving foreign investors power to curb legitimate national regulation (Beyond BITs)
- encourage global trade while preserving national policy space (Beyond TPP)ensure that gains from globalization are shared more fairly (Beyond labor clauses in FTAs)
- protect the losers from economic disruption caused by movement of people and production (Beyond Trade Adjustment Assistance)
- ensure popular voice in the framing of essential global or regional-level rules (Beyond expertise)
Attendees engaged with these questions and more during this inaugural meeting of the The New Political Economy of Globalization initiative.