The Return of Cosmopolitan Capital: Globalization, the State and War
In today’s world, money, goods, and ideas flow freely across national borders, making traditional “national economies” increasingly outdated. Nigel Harris shows that, over centuries, trade and finance have evolved beyond feudal land-based power to the global markets we know today—driven more by consumer demand than by government rules. While organizations like the WTO and EU try to smooth out international rules, and some countries push back with tariffs or “digital sovereignty” laws, market forces inevitably find ways around these barriers. Looking ahead, solving big challenges—from climate change to AI regulation—will require new “hybrid” systems that combine public oversight, private innovation, and global cooperation to keep markets dynamic yet fair and stable.
