The Liberal Trilemma

Many people are looking for the reason to explain the Greek/Euro mess. Edmund Conway in the London Daily Telegraph has as good a reason as any. The current crisis, he writes, puts politicians face-to-face with the Rodrik Trilemma, conceived by Dani Rodrik of Harvard. Here's the concept as Rodrik describes it in his blog:I have an "impossibility theorem" for the global economy ... It says that democracy, national sovereignty and global economic integration are mutually incompatible: we can combine any two of the three, but never have all three simultaneously and in full.Let's just say that if you combine all three ingredients, you get Greece.But the trilemma is not a universal problem. It is only a liberal problem. That's because in the United States, at least, only liberals want to maximize the power of the state. In liberal-speak, "democracy" and "national sovereignty" are codewords for the slogan "All Power to the Liberals." Liberals acquire...(Read Full Article)