“…basic responsibility of government is to maximise welfare of citizens, not an abstract concept of global good”
Brilliant description of what’s happened to the elite advocates of the benefits of globalisation (note to self: tag under ‘Political Trilemma‘) from Larry Summers in the FT: The mainstream approach starts with a combination of rational argument and inflated rhetoric about the economic consequences of international integration. Studies are produced about the jobs created by trade agreements, the benefits of immigration and the costs of restrictions. In most cases the overall economic merits are clear. But there is a kind …
