Harvard globalisation; a process in which all individuals

Harvard University professor, Dani Rodrik wrote a book called ‘The Globalisation Paradox’ in which he outlines a political trilemma which occurs in the world economy and compares the concept of smart globalisation with maximum globalisation. He begins by stating that open market will only succeed when government and other financial and social institutes work together. There is a need for both for globalisation to work efficiently and that through the existence of both markets and governing bodies, more governance would be pursued. The paradox outlines the need for the combination of strong national democracy, rules and institutional arrangements should be enforced to achieve economic stability and prosperity which is equally distributed through society.┬áRodrik sees globalisation as a problem of political trilemma in the world economy where it is impossible to simultaneously practice democracy; where the nation’s population are engaged in decision making, national sovereignty; where the interest of nations are considered as priority and globalisation; a process in which all individuals are treated equally (which has not been met as of today). However, we have seen globalisation benefiting the richer countries more than developing countries. Although, there is an option of selecting two out of the three to pursue. For globalisation and democratic politics to work, national sovereignty has to be overlooked. Whereas, for globalisation and national sovereignty to work democratic politics must be eliminated. Finally, for national sovereignty and democratic politics to take place, global market would have to be rejected. The different combinations are where the challenge of governance lies according to which options are being chosen.┬áIn the instance, that globalisation and democratic politics are pursued, it would be impossible for nation states to survive in the occurrence of a fully glob