Wanted : A New Keynes

Wanted: A New Consensus on Globalization

Dani Rodrik argues that the survival of globalization will require a " new intellectual consensus to underpin it". "[...] The first three decades after 1945 were governed by the Bretton Woods consensus – a shallow multilateralism that permitted policymakers to focus on domestic social and employment needs while enabling global trade to recover and flourish. This regime was superseded in the 1980’s and 1990’s by an agenda of deeper liberalization and economic integration.
That model, we have learned, is unsustainable. If globalization is to survive, it will need a new intellectual consensus to underpin it. The world economy desperately awaits its new Keynes. "

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