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A group of people observe a projection of the planet earth. Photo credit: Laurent Gilleron/EPA

IGHC Research Seminar Series

Wednesday, October 3rd, 12:30-1:30pm, L.R. Wilson Hall 1003, McMaster University, Are Globalization, Democratization, And Our Current Global Liberal Order Ending? Prof. Tony Porter

Sep 25, 2018

Are Globalization, Democratization, And Our Current Global Liberal Order Ending?

There are numerous signs that the global liberal order which the US has led and dominated since World II may be at an end. Since the 2008 global financial crisis some key measures of economic globalization have slowed or reversed. Populist backlashes against globalization have fueled the election of governments with authoritarian and nationalist tendencies. The Trump Administration has expressed hostility towards global institutions, alliances and diplomatic practices that previously have been central to the US-led global order, and the UK appears to be stepping back from its global role with Brexit. The expansion of democracy, which also had previously seemed irreversible, has been replaced by doubts and pessimism, with Freedom House declaring that “democracy is in crisis”. Inequality and our treatment of our planet are becoming unsustainable. Digitization is eroding the everyday stability of the global order with proliferating “fake news” and technologies such as artificial intelligence threatening widespread reworking or elimination of jobs. This talk will argue that we are indeed in a transformative historical period, but that rather returning to an earlier period governed more exclusively by nation-states, there are elements of globalization, democracy, and the current global order that need to be built on to create a more globally democratic and sustainable future.

About the Speaker

Tony Porter conducts research on business regulation and global governance, including especially financial regulation, private and hybrid public/private rulemaking, and the organizational effects in governance of technologies, numbers, and time. His books include States, Markets and Regimes in Global Finance (Macmillan 1993); Private Authority in International Affairs (SUNY Press, 1999), coedited, with A. Claire Cutler and Virginia Haufler; Technology, Governance and Political Conflict in International Industries(Routledge, 2002); Globalization and Finance (Polity Press, 2005); The Challenges of Global Business Authority: Democratic Renewal, Stalemate, or Decay? (SUNY Press, 2010), coedited with Karsten Ronit; Transnational Financial Associations and the Governance of Global Finance: Assembling Power and Wealth (RIPE/Routledge, 2013), coauthored with Heather McKeen-Edwards; and Transnational Financial Regulation after the Financial Crisis (RIPE/Routledge 2014, edited).