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:

Interview

Interview with economist Tyler Cowen on Weaponized Interdependence, Big Tech, and Playing with Ideas

Whether it’s China’s influence over the NBA, the US ban of Huawei, or the EU courts asserting that countries can force Facebook to take down content globally, Henry Farrell has played a key role articulating how global economic networks can enable state coercion. Tyler and Henry discuss these issues and more, including what a big ...
Read Article
Essay

Consulting Firms Have Stumbled Into a Geopolitical Minefield – with Abraham Newman

Earlier this year, McKinsey executives found themselves in serious political trouble. The Financial Times reported that their China branch had boasted in 2019 of its economic advice to the Chinese central government, while a McKinsey-led think tank prepared a book which advised China to “deepen cooperation between business and the military and push foreign companies ...
Read Article