As we re-envision progressive global governance for the 21st century, we seek to better balance the challenges and opportunities ushered in by globalization.
Over the course of the past century, global trade agreements and international institutions have ushered in opportunities and challenges for Americans and American businesses. We’ve lowered prices, expanded the market for U.S. goods, enhanced diplomacy, and expanded human rights internationally. However, we’ve also displaced communities, exacerbated environmental degradation, and failed to compensate those who have lost jobs, income, and community. Too often, our trade deals have been negotiated by lobbyists and large corporations that place their own interests above that of average Americans.
Trade deals now cover many non-trade areas, shaping how we tackle (or fail to tackle) carbon emissions, corporate tax avoidance, global banking risk, and more. “Rule-setting” for the global economy is done through costly litigation at the World Trade Organization and investor-state dispute settlement, privileging intellectual property holders and multinational capitalists over workers, environmentalists, and other interests. It is against this backdrop that we are witnessing a revolt against global integration in the U.S. and Western Europe.
Led by Todd Tucker and Joseph Stiglitz, the Roosevelt Institute’s international work aims to advance a new framework for international economic rulemaking, one that is centered on democratic participation and embodies and updates the values of FDR’s New Deal.