GLOBALIZATION

Talk with Dani Rodrik and Joe Kaeser: How to make globalization work for all

In their talk at the VIII. New Paradigm Workshop, Harvard economist Dani Rodrik and former Siemens CEO Joe Kaeser talked about good job policies, the purpose of business, and the taxation of SUVs.

BY

DAVID KLÄFFLING

PUBLISHED

26. MAY 2021

In his keynote, Harvard economist Dani Rokdrik focussed on good job policies. He pointed towards the limits of the welfare state and the importance of jobs for the well-being. According to Rodrik, job policies should include better active market policies linked to employers, and industrial and regional policies targeting good jobs. He also stressed that technology is – like globalization – nothing god given, but can be shaped by policy. He argued that innovation policies should be directed towards labor friendly and less capital intensive technologies.

Ex-Siemens-CEO Joe Kaeser disagreed with Milton Friedman that the business of businesses is just business, but that companies need to serve society. Kaeser demanded from policy makers that they should be courageous enough to implement necessary reforms from a shareholder value world towards stakeholder capitalism.

Joe Kaeser and Dani Rodrik - the whole discussion

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ABOUT GLOBALIZATION

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After three decades of poorly managed integration, globalization is threatened by social discontent and the rise of populist forces. A new paradigm will need better ways not only to compensate the groups that have lost, but to distribute the gains more broadly from the start.

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