02 de July, 2020

Check out Daron Acemoglu´s presentation

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In a new version of the FEN-MIT joint webinar series, Daron Acemoglu, an MIT Economics professor, presented his latest book "The Narrow Corridor: States, Societies, and the Fate of Liberty". José De Gregorio, Dean of FEN and Roberto Rigobón were the commentators.

 
The economist indicated that "the world was already going through a period of deglobalization even before the [health] crisis". This is partly explained by the fact that "globalization creates many pressures". "The way we have dealt with globalization has had a major flaw," he says. 

 
Acemoglu warns that "it is impossible to have a healthy globalization process without more powerful institutions", adding that, without entities such as the United Nations, the World Bank or the World Health Organization, "globalization will always create more risk". "Global institutions are very weak and non-existent," he laments, and warns that "a global crisis could weaken international institutions". For the same reason the expert argues that, after the pandemic, development "has to include multilateralism and institutions that can establish rules", since so far "we have witnessed a globalization that is perhaps too focused on efficiency".