Las fronteras borrosas de la política económica

MILÁN – En todo el mundo, las políticas, las tecnologías y los procesos de aprendizaje ampliados se han combinado para erosionar las barreras a la interacción económica entre los países. Elija cualquier indicador: el comercio frente al PIB mundial, los flujos de capital en comparación con la capitalización bursátil mundial, entre otros – todos están al alza.

Pero las políticas económicas están establecidas a nivel nacional, y, con unas pocas excepciones significativas como las negociaciones comerciales y el seguimiento del financiamiento a terroristas y el lavado de dinero, los formuladores de políticas establecen metas con miras a beneficiar la economía del país. Y estas políticas (o cambios de política) están afectando cada vez más a otras economías y al sistema mundial, dando lugar a lo que podría llamarse “externalidades de la política” – es decir, la consecuencias que se extienden más allí del objetivo de los formuladores de políticas.

Naturalmente, tales externalidades siempre han existido. Pero habitualmente eran pequeñas. A medida que se vuelven más significativas (como resultado de la mayor conectividad mundial), inevitablemente se hacen más difíciles de manejar. Después de todo, la optimización mundial exigiría una autoridad que formulara las políticas a nivel mundial, esto es algo que carecemos.

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