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

What If These Economic Weapons Fall into Trump’s Hands? – with Abraham Newman

The Biden administration has built an unprecedented machine for economic and technological coercion. When Russia invaded Ukraine, the United States and its allies cut off Russia’s access to its own central bank reserves held outside Russia. The administration revamped export controls to strangle China’s access to the powerful and specialized semiconductors needed to train A.I., ...
Read Article
Chapter in an Edited Volume

“The Shared Challenges of Institutional Theories: Rational Choice,” in Historical Institutionalism, and Sociological Institutionalism, Knowledge and Institutions – eds. Johannes Glückler, Roy Suddaby and Regina Lenz

Scholarship on institutions across the social sciences faces a set of fundamental dilemmas. On the one hand, it needs to explain how institutions change. Yet explanations of change which point to external factors run the risk of reducing institutions to a mere transmission belt for other, more fundamental causes. On the other, it needs to ...
Read Article