So I maintain that any reform of the international economic system must face up to this trilemma. If we want more globalization, we must either give up some democracy or some national sovereignty. Pretending that we can have all three simultaneously leaves us in an unstable no-man’s land.
A year old posts but more important to note now that the world is in a Severe Economic Crisis the decisions and compromise that the world leaders choose basically impact my and my generations adult life. This probably has a more formal name but I’ll call it the tragedy of progress, where in the previous generation either build the pitfalls or the stepping stones of the next generation.