Class: IS403 Created Time: December 17, 2021 12:32 PM

Globalization and Populism

Database: Class Notes Database Last Edited Time: December 17, 2021 4:26 PM Type: Reading Notes

Does globalization strengthen democracy & liberal values
- it does, but it also strengthen authoritarian regimes, rulers, and oppressing forces
Globalization creates the left behind because inequality of gain ⇒ fueled the populism idea to change that
The Great Compression (Post-WW2): huge reduction of inequality of income and wealth across developed nations between 1914 to 1970s
What is Populism?

1. Relationships Between Globalization and Populism

Driving forces behind globalization is unbundling:
- the fall of the cost of things that connect the world
- there’s no need for a production line to be performed next to each other using comparative advantage
Migration rates increased
Globalization entails growing inequality and insecurity in advanced countries.
Trade and financial openness do not lead to higher economic growth by themselves, in the absence of institutional reforms.
The Trilemma: you can only have 2 out of the 3 at the same time
1. Deep economic integration
2. Nation-state
3. Democratic politics
- 1+3= global federalism: scope of democratic politics coincides with scope of global market
- 1+2= address needs of international economy, but not domestic objectives anymore
  - economic interdependence creates exploitable vulnerability
  - only benefit some, not all
  - it’s not easy to maintain this type of policy with a democratic regime (people will vote you out for more populist policy)
- 2+3= limited version of globalization
  - What does this mean?

Populism is hard to define and subjective
- term used by ‘orthadox’ political parties against their opponents
Populism: a political approach that strives to appeal to ordinary people who feel that their concerns are disregarded by established elite groups
- components of definition of populism
  - populist claims to be on the side of the people against the elites
  - fear or enthusiasm: that politicians can pander to, seek their support through their concerns
  - disregard for future consequence: normally with political goals of short-term protections
    - only to get support of people short term
    - doesn’t provide long term solutions
- Characteristic:
  - Hostility to elites, mainstream politics, and established institutions
    - anti-institutionalism
  - taken up by both right and left wings
  - Society is separated into two antagonistic groups: pure people vs corrupt elites
Historical perspective: investigate importance from political ideology and political strategies under the democratic system.

rise of democracy
- if a leader can’t satisfy the people, they will elect a ‘populist’ leader to replace the old one
After crises sometimes

Globalization creates a few winners and a lot of losers

Populist leaders usually turn to authoritarian to maintain power
- They are elected by the people and therefore think they can do whatever they want
Governments can’t deal with lack of necessary institutions ⇒ creation of technocratic institutions that wants the interests of the nonelected groups of people & more estrangement of ordinary citizens
- Why? what does that mean?
Liberal democracy threatened by illiberal democracy and undemocratic liberalism
- What are they? Why important?

🛠 read the two articles

concepts of populism
- what is populism
  - what are the characteristics of populist politicians?
How does globalization contribute to/fuel populism
is it good or bad for countries
why we need to worry about rise of populism
30 minutes to read and share (starting: 2:36 or 2:38)