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Globalization in the aftermath of the pandemic and trump

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  • Stiglitz, Joseph E.
Abstract
Covid-19 has exposed and deepened global inequalities: rich countries spent aggressively to sustain their economies and secured early vaccine access while most of the developing world continues to endure a growing disease burden. It also underlined the extent of inter-dependence and weaknesses in some of our international institutions and rules, many of which were established in the now discredited era of neo-liberalism. There is a rich, complex, and difficult agenda going forward for international cooperation. This includes aiding developing countries in restructuring their debt obligations, and guaranteeing that multi-national corporations pay their fair share with a robust international tax regime, better trade and intellectual property regimes, and better global regulatory frameworks for competition and social media. The failures of the past rules have led to political opposition to globalization. The only sustainable and inclusive path out of this pandemic is through cooperation and a re-imagining of globalization.

Suggested Citation

  • Stiglitz, Joseph E., 2021. "Globalization in the aftermath of the pandemic and trump," Journal of Policy Modeling, Elsevier, vol. 43(4), pages 794-804.
    • Handle: RePEc:eee:jpolmo:v:43:y:2021:i:4:p:794-804
    DOI: 10.1016/j.jpolmod.2021.02.008
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    References listed on IDEAS

    as
    1. David H. Autor & David Dorn & Gordon H. Hanson, 2016. "The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 205-240, October.
    2. Marcus Miller & Joseph Stiglitz, 2010. "Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?," Economic Journal, Royal Economic Society, vol. 120(544), pages 500-518, May.
    3. Roukny, Tarik & Battiston, Stefano & Stiglitz, Joseph E., 2018. "Interconnectedness as a source of uncertainty in systemic risk," Journal of Financial Stability, Elsevier, vol. 35(C), pages 93-106.
    4. Griffith-Jones, Stephany & Ocampo, Jose Antonio & Stiglitz, Joseph E. (ed.), 2010. "Time for a Visible Hand: Lessons from the 2008 World Financial Crisis," OUP Catalogue, Oxford University Press, number 9780199578818.
    5. Stiglitz Joseph E & Greenwald Bruce, 2010. "Towards A New Global Reserve System," Journal of Globalization and Development, De Gruyter, vol. 1(2), pages 1-26, December.
    6. Marcus Miller & Joseph Stiglitz, 1999. "Bankruptcy Protection Against Macroeconomics Shocks: The case for a 'super Chapter 11'," CSGR Hot Topics: Research on Current Issues 08, Centre for the Study of Globalisation and Regionalisation (CSGR), University of Warwick.
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    Cited by:

    1. Batabyal, Amitrajeet & Beladi, Hamid, 2022. "City and Regional Demand for Vaccines Whose Supply Arises from Competition in a Bertrand Duopoly," MPRA Paper 113758, University Library of Munich, Germany, revised 28 Jun 2022.
    2. Beckman, Jayson & Ivanic, Maros & Shaik, Saleem, 2023. "How bilateral trade deals get in the way of multilateral agreements: Why WTO is marginalized," Journal of Policy Modeling, Elsevier, vol. 45(5), pages 877-894.
    3. Giammetti, Raffaele & Papi, Luca & Teobaldelli, Désirée & Ticchi, Davide, 2022. "The optimality of age-based lockdown policies," Journal of Policy Modeling, Elsevier, vol. 44(3), pages 722-738.

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    More about this item

    Keywords

    Globalization; Coronavirus; Global economic crisis; International economics;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F01 - International Economics - - General - - - Global Outlook
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • G01 - Financial Economics - - General - - - Financial Crises
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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