Nicholas Piper, born in 1952, is the author of the süddeutsche Zeitung and especially loves writing about fundamental questions of Economics. From 1999 to 2006, he headed the economic Department of the SZ, after that, he was the paper's Economics correspondent in New York. Piper is the author of two children's books by "Felix and the love of money" and "history of economy".send an email
"How can something like this claim, of our politicians and many Economists, make it all better, so abhorred?" This sentence of the Economist and Nobel laureate Joseph Stiglitz, Michael Hüther at the beginning of his book about the "exhausted" of globalization. Hüther, Director of the employer middle Institut der deutschen Wirtschaft (IW) in Cologne, with its analysis of the co-authors of the IW researcher Matthias Diermeier and Henry Goecke-the current crisis state of the world in a large historical context. This is what distinguishes "The exhausted globalisation" is a pleasant contrast to other similar books.
Hüther, and his IW-colleagues try to go to the question of Stiglitz: Why the hate on the globalization is becoming stronger, where the economic benefits of deeper international division of labour, are out of the question. The answer is: globalization has a dark side, a not keeping a promise, and that is their lack of inclusivity, the "neglect or even ignorance of the losers of globalization". Perhaps more importantly, the "Western inconsistency in the assessment of one's own value base". As an example, the authors of entrepreneurs, who will be happy to call you that in authoritarian regimes, so a quick approval, but forget that democracy takes time. And for the economic success, if one presses on human rights.
before the globalisation in the war, spread throughout Europe, a Think-Siècle mood
the Parallels are there to the first great wave of globalisation in the second half of the 19th century. Century. Huether and his colleagues will not let you 1870 start and at the 7. In may 1915, when a U-boat of the Imperial Navy, the British passenger ship MS Lusitania torpedoed and in order for the entry of the United States in the First world war-prepared. Globalisation has brought enormous progress for the majority of people in Europe and North America, but they also had a loser. Above all, they had a dark side, and this was the European colonialism. How much of the state in conflict with their own values, is not obvious.
Long before the globalisation in the war, spread throughout Europe, a Think-Siècle mood, than, as it says in the book, a greater number of companies, "thoughtfully up to the depressive self-abandonment". In the case of the elites of a "previously unknown expectation of openness was created, the uncertainty and the present as a passage through thin ice appear to be left".
Weariness, world-weariness, and the end of days, the "willingness to depressive self-task" diagnose Hüther and his Co-authors for the present. Shutter button to Find our-Siècle mood was the financial crisis of the years 2008 and 2009, which was interpreted as a "social disaster, and Overstretching of the political possibilities". The economic side: "It seems so, as the potential of the second globalization was exhausted," the authors write. They justify their Theory with the observation that the number of countries decreases with economic growth of more than four percent. And, finally, the geopolitics, the rise of the people's Republic of China as a globalization winner, but the values that stand behind the Western-dominated "transatlantic globalization".
As a bottom line for the authors to think about how a "third globalization" might look like, an economic Integration that is now really inclusive. You would have to, inter alia, facilitate the flow of capital to developing countries, civil society involvement, and the relationship of nation-States and multilateral rules. Crucial for the success of this globalisation is the development of a capital-funded old-age pension in the poor countries of Africa would be, for example, so that they can build up a private capital market.
read A very value, even if not necessarily easy-to-read book at the right time.
Michael Hüther, Matthias Diermeier, Henry Goecke: The exhausted globalisation. Between TRANS-Atlantic orientation, and the Chinese way. Springer, Berlin, 2018. 421 Pages, 19.99 Euros. E-Book: 14.99 Euro.