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Lecture 15

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Political Science
Lilach Gilady

Lecture 15 Of the worldfs largest 150 economic entities 95 are corporations Walmart is the 22nd largest economy in the world Corporations are more powerful and influential than thought Rethinking of the relationship between the State and the Multinational Corporation MNC Many conclude the state is becoming powerless but it is not clear Many corporations have a base they identify with What are the ethical implications Does it force us to reevaluate the winnerslosers and with it the theory of free trade Lecture 15 Antiglobalization collection of different interest groups with a variety of concerns and agendas focus on redistribution externalities democracy Not a wellestablished movement Regulation from below Through the aggregation of our preferences as consumers we can dominate MNCs and dictate what we want Regulation through market forces and decisions as consumers Is there an alternative Rodrikfs Trilemma We can only choose two at any given moment If you choose economic integration and nation state your democracy is jeopardized and you end up in an race to the bottom because capital has an exit gate Capital has more power than governments Citizens cannot influence their own govts If we select economic integration and mass politics we have to give up the nation state and end up in global federalism We would have to give up on national boundaries If we choose Nation State and Mass Politics we end up in Bretton Woods where some economic regulations are imposed upon states limited economic integration Rodrik provides us with three scenarios as choices for the society and the intl system whatever choice we make comes with a price A rising tide lifts all boats Laissezfaire benefits everyone and market selfadjustment is good for everyone The gap between rich and poor is however increasing Inequality
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