Globalization, Institutions and Governance by James A. Caporaso & Mary Anne Madeira

Author:James A. Caporaso & Mary Anne Madeira [Caporaso, James A. & Madeira, Mary Anne]
Language: eng
Format: epub
Tags: International Relations, Globalization, Political Science, General
ISBN: 9781446292457
Google: YUSBAgAAQBAJ
Goodreads: 26332988
Publisher: SAGE
Published: 2011-10-26T00:00:00+00:00

The Dark Side of Global Governance

Our assumption throughout this chapter has been that if globalization is a given, then some form of global governance is inevitable. We can already see governance in the rules regulating contractual relationships among firms, in the bilateral investment treaties (BITs) among scores of countries, in the institutions of the IMF, World Bank, G-8 and G-20, and in the ‘islands of transnational governance’ created by firms, legal actors, and arbitration houses (Stone Sweet, 2002: 323). It is hard to imagine the alternative to global governance. We already expressed our reservations about an ungoverned globalization based on private forces. Would banks, multinational corporations, tourists, trade organizations, and global civil society actors be completely self-regulating? And the alternative of eliminating globalization by returning to the autarchy of the interwar years seems unthinkable given the magnitude of cross-border exchanges that take place.

In the previous section we considered the possibilities of the development of ‘global democracy’ alongside globalization. Here we assess the dark side of global governance, again as a set of potentials. We see three major areas of concern: the distance between ‘the people’ and global governance institutions; the possibility for oppression and tyranny; and the ways in which cosmopolitan ideologies may suppress distinctive national ambitions and identities.

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