Article in Journal

Institutions – Moving to the Global?

Harold James
CESifo, Munich, 2022

EconPol Forum 23 (5), 56-64
  • Domestic (but not foreign) borrowing became cheaper after the 17th century financial revolution
  • Trilemmas present a way of weighing the losses and gains from trade-offs from capital openness
  • The policy limitations on democracy resulting from capital openness may be treated analogously
  • Limitations from the international system or order can also be treated in this manner.
  • The 17th century domestic analogy suggests a need for coordinated or linked up global governance