World Economic Forum
Tariffs, globalization, and democracy, with Harvard economist Dani Rodrik
Feb 6, 2025
Dani Rodrik, a Harvard economist and critic of unrestricted globalization, delves into the complex relationship between tariffs, economic nationalism, and democracy. He argues that while tariffs can protect domestic economies, they also come with limitations. Rodrik highlights the resurgence of industrial policy as a response to growing inequalities and declining middle class, stressing the need for improved job quality and worker empowerment. He also reflects on the social consequences of hyper-globalization, evidenced by events like Brexit and Trump's election.
30:03
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Quick takeaways
- While tariffs can protect domestic economies, they are not a comprehensive solution to the complexities of global economic challenges.
- The revival of industrial policy is crucial for addressing economic disparities and fostering job creation, especially for the middle class.
Deep dives
The Complexity of Globalization
Tariffs can be useful as a protective measure for domestic economies but should not be considered a comprehensive solution for complex economic challenges. The podcast emphasizes that while globalization has brought countries together economically, it has also created divisions within nations, particularly between the middle class and political elites. Economies have become more integrated globally while increasingly disconnected internally, leading to significant social tensions and dissatisfaction. This situation illustrates the need for a reevaluation of how globalization is managed, focusing on making it a fairer system for all.
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