Managed Globalization: Doctrine, Practice, and Promise

Rawi  Abdelal; Sophie  Meunier

Article | Journal of European Public Policy | April 2010

Managed Globalization: Doctrine, Practice, and Promise

by Rawi Abdelal and Sophie Meunier

Abstract

Two alternate visions for shaping and explaining the governance of economic globalization have been in competition for the past 20 years: an ad hoc, laissez-faire vision promoted by the United States versus a managed vision relying on multilateral rules and international organizations promoted by the European Union. Although the American vision prevailed in the past decade, the current worldwide crisis gives a new life and legitimacy to the European vision. This essay explores how this European vision, often referred to as 'managed globalization,' has been conceived and implemented and how the rules that Europe fashioned in trade and finance actually shaped the world economy. In doing so, we highlight the paradox that managed globalization has been a force for liberalization.

Keywords: Financial Crisis; Trade; Globalized Economies and Regions; Governing Rules, Regulations, and Reforms; Competition; European Union; United States;

Format: Print

18 pages

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Citation:

Abdelal, Rawi, and Sophie Meunier. "Managed Globalization: Doctrine, Practice, and Promise." Journal of European Public Policy 17, no. 3 (April 2010): 349–366.

Italy’s March 2018 elections led to a populist government which included the right-wing League and the anti-establishment 5 Star Movement. To respect their electoral promises, the two parties came up with a budget plan which provided for a public deficit at 2.4%, a figure higher than what the previous administration had promised the EU Commission. On October 23, 2018, the EU Commission rejected such plan asking Italy to revise downwards the public deficit. The same day, Italian bond yields spoke to 4-year highs, up to 3.7% as investors questioned Italy’s capacity to repay its public long-term debt, the second highest in the EU. Would the Italian government be able to implement its plan?

Case | HBS Case Collection | October 2018

Everybody Knows: Russia and the Election

Rawi Abdelal and Rafael Di Tella

Following a contentious presidential race, Donald Trump’s 2016 election destabilized America’s status quo. Academics, journalists, politicians and the public at large examined why Trump had won. Many Americans, inside and outside the government, asserted that a state-led Russian disinformation campaign had influenced the election’s outcome. The leaders of major social media companies, including Twitter and Facebook, also conceded that state actors had probably gamed their platforms to influence American politics. Trump himself made conflicting statements, while Russian politicians asserted that American elites had rhetorically weaponized the issue of election interference to justify an unwillingness to work with their country internationally. It was hard to parse where reality ended and political rhetoric began. Post-election, the future of U.S.-Russia relations remained unclear, and the United States grappled with how to regulate cyberspace. Analyzing the 2016 election and its aftershocks helps students confront interrelated questions about business regulation, international relations, cultural identity, strategic communications, political will and the Internet. The case encourages students to consider the boundary between narrative and reality, and examine subjectivity, objectivity and power in the public and private sectors.

Keywords: Strategic industry; strategic alliances (business); Business and Government; business and public policy; business and society; Media Businesses; media content; media slant; media regulation; social media; internet of everything; government policy; politics; political campaigns; political strategy; political turmoil; government; Government Legislation; Government Regulation; Security; international business; International Relations; National Security; Political Elections; News; Media; Internet; Rights; Problems and Challenges; Globalization; Business and Community Relations; Business and Government Relations; Risk and Uncertainty; Cognition and Thinking; Conflict and Resolution; Identity; Civil Society or Community; Culture; Public Opinion; Social Issues; War; Online Technology; Public Administration Industry; United States; Russia;

Citation:

Abdelal, Rawi, and Rafael Di Tella. "Everybody Knows: Russia and the Election." Harvard Business School Case 719-012, October 2018. View Details

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