Globalized Green Lanternism

American political commentators have frequently called for the U.S. president to take effective action to improve world economic growth. Such calls are a form of what Matthew Yglesias has dubbed “Green Lanternism”—the unspoken theory that the U.S. president’s ability to affect outcomes is primarily affected by his willpower. In this article, I examine the opposite—and more plausible causal relationship—that the power of the U.S. president is shaped by the underlying secular determinant of world economic growth. I go on to examine how we might expect U.S. power and interests in building up a multilateral trading order could largely wither away under conditions of enduring weak economic growth, which some economists have argued is in fact the most plausible long-run growth path for the world economy.

Access the full article here.

Other Writing:

Essay

America Should Think Twice Before Replacing Sanctions with Tariffs – with Abraham Newman

Donald Trump complains that they are undermining the supremacy of the dollar. Access the full article here. Henry Farrell (and Abraham Newman), “America Should Think Twice Before Replacing Sanctions with Tariffs,” Financial Times, September 19, 2024.
Read Article
Essay

Forget Me Not: What the EU’s New Internet Privacy Ruling Means for the United States – with Abraham Newman

The modern innovators of Internet human rights are not U.S. leaders or bold Silicon Valley entrepreneurs. They are stodgy bureaucrats, politicians, and lawyers in Brussels, Berlin, and Strasbourg. As the National Security Agency (NSA) and American firms have relied on sucking up massive amounts of data to observe citizens and create and serve consumers, the ...
Read Article