This book is a thought-provoking and authoritative text on this fast moving field of international law.

This book concerns the end of the age of colonization and the inherent changes in the world economy. It discusses the author’s perception of the disintegration of free trade and ideas on the solution of federation. Starting with an introduction to economic thought and history the author then presents the state of the world at the time of writing in terms of colonies and dependencies and looks at economic nationalism and economic separatism. This discursive text is an important account of the global economic issues of the early twentieth century by one of the most well-known economists of the age who became a foremost expert in international financial affairs.

For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.

This book sets out a concrete analytical and empirical framework to understand the Euro-zone crisis and the deep disintegrative tendencies of Euro-Atlantic neo-imperialism. It explores how the authoritarianism and austerity led from above in the transatlantic world cultivate right-wing populism and racist hysteria from below, especially in relation to the global power-shift to China and other emerging economies. The authors argue that ordoliberal/neo-liberal austerity cannot reverse the decline of western economies; if anything, it precipitates their downfall and the re-launching of globalization under Asian primacy. The book will appeal to students, scholars and policymakers across the fields of International Political Economy, European Politics and Critical Social and Political Theory.

Deftly navigating the tensions among globalization, national sovereignty, and democracy, Straight Talk on Trade presents an indispensable commentary on today's world economy and its dilemmas, and offers a visionary framework at a critical time when it is most needed.