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2022 | Book

Introduction Read chapter Read first chapter

Political Economy of New Pragmatism

Implications of Irreversible Globalization

Author: Grzegorz W. Kolodko

Publisher: Springer International Publishing

Book Series : Springer Studies in Alternative Economics

Part of: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft" , Springer Professional "Technik"

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About this book

This book provides answers to fundamental questions of sustainable development and international cooperation in light of irreversible globalization. Based on comprehensive research and a wealth of experience from his own political activities, the author offers an insightful analysis of the globalized economy and its political, cultural and ecological context. Presenting an objective assessment, the author diagnoses the state of affairs and formulates recipes to overcome present day challenges, such as income inequalities, climate change, demographic imbalance and the new Cold War, which overlap with the “black trinity”: populism, nationalism and authoritarianism.

"Grzegorz Kolodko is one of the most acute observers of the international economy, based on long experience both as a practitioner and as an academic. His writings are always an important starting point for debate and discussion about the political economy of globalization."

Francis Fukuyama, Stanford University, author of “The End of History”

"Grzegorz Kolodko unites deep policy experience, a vast breadth of observation and a solid grip on real-world economics in his case for a new pragmatism. For all involved in the causes of peace, justice, shared prosperity and public purpose, he is a leader and an ally."

James K. Galbraith, The University of Texas at Austin

"Dr. Kolodko delivers comprehensive and inspiring economic analysis, drawing on his rich historical political leadership. His probing and insightful assessment of globalization in today's and tomorrow's world is a must read."

Rev. Jesse L. Jackson, President of Rainbow Coalition and International Civil Rights Activist

Table of Contents

Frontmatter
Chapter 1. Introduction
Abstract
After the publication of Truth, Errors and Lies: Politics and Economics in a Volatile World (Kolodko in Truth, errors and lies. Politics and economics in a volatile world. Columbia University Press. New York, 2011) and three years later Whither the World: Political Economy of the Future (Kolodko in Whither the World: the political economy of the future. Palgrave Macmillan, Houndmills, Basingstoke, Hampshire, 2014), now it is time for the third part of my trilogy: Political Economy of New Pragmatism: Implications of Irreversible Globalization.
Grzegorz W. Kolodko
Chapter 2. New Pragmatism for New Times
Abstract
Economics is a beautiful science because it serves human well-being. It is a body of knowledge about economic activity in all its aspects, and when we are able to add new segments to the knowledge accumulated over generations—new observations of phenomena and processes and their innovative theoretical explanations—it is no longer just knowledge, but a science.
Grzegorz W. Kolodko
Chapter 3. Political System and Socio-economic Development
Abstract
We are constantly entangled in resolving multiple conflicts of ideas and interests. Oftentimes, when it seems we are discussing contradictory ideas, we are actually dealing with conflicting interests. It is rarely the other way around, but it happens, too. A lot of misunderstandings stem from the fact that in the human-society-humanity triangle, the objectives of individual and collective activities are often confused with the means to achieve these objectives. The same can be said when analyzing the economy-state-world triangle. Things get even more complicated because, despite the greatest resources of knowledge in history, we live in a time of great uncertainty. Many decisions are taken not under deterministic conditions, but in the context of an unpredictable future and difficulties with estimating risks. Hence, the dynamics and shape of the highly complex world are rarely in line with the assumptions made at the time of preparing and making decisions. They are judged to be wrong post factum but often could not have been better, given the unstable conditions and wobbly expectations.
Grzegorz W. Kolodko
Chapter 4. People’s Planet
Abstract
It is good that G20 summits have been held for many years. It is a forum that is far more representative of the world economy than meetings between the leaders of the rich G7 countries, who claim to care about the whole of humanity but are mainly concerned with their own interests, or the BRICS group, whose member countries—Brazil, Russia
Grzegorz W. Kolodko
Chapter 5. Leadership: Economics and Politics of Great Change
Abstract
There has never been a case in history where, during a short episode such as the life of one generation, mutual economic relations have changed so much for so many people as happened in China and Russia between 1989 and 2021. Both countries are undergoing profound structural and institutional changes, except that in the former, remarkable results have been achieved in terms of development and narrowing the gap with the developed economies, while in the latter the results are rather unimpressive.
Grzegorz W. Kolodko
Chapter 6. One-Third of a Century of Transformation
Abstract
Yes, history is unfolding. Undoubtedly, one of the most striking pages of its contemporary version is the post-socialist systemic transformations affecting two billion people in a vast area stretching from Central Europe to the Western shores of the Pacific. Moreover, their indirect effects and political and economic echoes are still making themselves felt in other parts of the world that were for some time attracted to socialist ideas and practices—from the Middle East and several countries in northern and sub-Saharan Africa to some countries in South America and the Caribbean.
Grzegorz W. Kolodko
Chapter 7. Shortageflation 3.0: War Economy–State Socialism–Pandemic Crisis
Abstract
Are we to expect a significant acceleration of inflationary processes? While some fear this or predict almost another disaster, others, on the contrary, compete in presenting minimalist forecasts of price increases. As is always the case when different opinions are confronted, this time it is also necessary to properly identify the object of controversy and correctly define the economic categories around which the discussion revolves.
Grzegorz W. Kolodko
Chapter 8. The Irreversibility of Globalization
Abstract
Globalization has many faces, which is why there are various definitions of it. A sociologist will describe it differently than a geographer (Martell 2016), distinct definitions will be provided by a lawyer (Santos and Rodríguez-Garavito 2005) and a cultural scholar (Tomlinson 1999), while a political scientist (Steger 2002) or an economist (Rodrik 2011) will present yet another version and each of them has the right to their own definition because it is a multidimensional category.
Grzegorz W. Kolodko
Chapter 9. Ending, or How to Row Uphill
Abstract
The reformulation of economic development objectives is the imperative of our times. This will prove crucial for reorienting the pursued development strategies. Insisting on the old, already morally worn-out ones, ever so often creates more problems than it solves. Development goals for the new era should be formulated rationally, which is a task not only for the elites who outline and exemplify these goals but for entire societies that must profoundly rethink their value systems. It is impossible to return to the era of the primitive community with gathering and hunting typical to it, but it is also impossible to continue living in the vapors of unbridled consumerism born out of the twentieth-century capitalism. What humanity needs is not abundance but moderation, not the pursuit of producing and consuming more goods, but the ability to maintain an ever-increasing dose of a secure economic balance.
Grzegorz W. Kolodko
Backmatter
Metadata
Title
Political Economy of New Pragmatism
Author
Grzegorz W. Kolodko
Copyright Year
2022
Electronic ISBN
978-3-031-12263-7
Print ISBN
978-3-031-12262-0
DOI
https://doi.org/10.1007/978-3-031-12263-7

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