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Tyler Cowen

Don't Blame Davos Man for Globalization's Limits

There's a moderation built into the system that should resolve populists’ complaints.
Davos men (and women).

Davos men (and women).

Photographer: Fabrice Coffrini/AFP/Getty Images

Perhaps the most common intellectual meme this week is the notion that “Davos Man” and the globalists have neglected the well-being of the people and thus given rise to a hostile but somewhat understandable populism. The reality is that globalization involves some significant self-limiting forces, and that many of its major problems were headed toward solutions, even before the vote for Brexit and the U.S. election of Donald Trump.

Let’s consider some of the complaints in turn.