Political Economy of New Pragmatism : Implications of Irreversible Globalization

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 Prologue Contents List of Tables List of Charts 1 Introduction References 2 New Pragmatism for New Times 2.1 Identity of Economics 2.2 State of Affairs 2.2.1 Demographic Changes 2.2.2 Environmental Changes 2.2.3 Scientific and Technological Revolution 2.2.4 Non-inclusive Globalization 2.2.5 General Crisis of Neoliberal Capitalism 2.2.6 Crisis of Liberal Democracy 2.2.7 Second Cold War 2.3 Objectives and Method of Economics 2.4 In Search of a New Paradigm 2.5 Useful Economics References 3 Political System and Socio-economic Development 3.1 Ideas and Interests 3.2 Between Democracy and Authoritarianism 3.3 Political System—An End or a Means to an End? 3.4 Political System and Economic Development 3.5 Entrepreneurship and Competitiveness 3.6 G7—Between Megalomania and Responsibility 3.7 Disappointment with Democracy 3.8 Influence of Democracy, Authoritarianism and Meritocracy on Social and Economic Development 3.9 What, Why, and How to Compare? 3.10 Threats to Meritocracy 3.11 A Good Prince and a Bad Dictator References 4 People’s Planet 4.1 From the G20 to COP26 4.2 The Scent of Flowers and the Singing of Birds 4.3 Who Will Pay for It? 4.4 Every Cloud has a Silver Lining? 4.5 Ethical Dimension of Environmental Protection References 5 Leadership: Economics and Politics of Great Change 5.1 Perestroika and Glasnost 5.2 The Round Table and the Berlin Wall 5.3 Retrospection 5.4 Theft First, then Confiscation—A Strange Russian-Western Partnership 5.5 The Power of Thought References 6 One-Third of a Century of Transformation 6.1 The Beginning and the End of the Post-socialist Transformation 6.2 The Pros and Cons of the Polish Transformation, or Between the Neocolonization and the Golden Age 6.3 Reality and Opinions 6.4 Post Hoc Ergo Propter Hoc 6.5 What If... References 7 Shortageflation 3.0: War Economy–State Socialism–Pandemic Crisis 7.1 Different Faces of Inflation 7.2 Inflation Suppression 7.3 Economics of Flows and Economics of Stocks 7.4 Shortageflation Rate 7.5 What’s Next? 7.6 The Worse, the Worse References 8 The Irreversibility of Globalization 8.1 The Essence of Globalization 8.2 What’s Going on 8.3 Polish Ways 8.4 Shortening Distances References 9 Ending, or How to Row Uphill References Epilogue Bibliography Index