Odd Lots: Branko Milanovic on the New Economic Order (Podcast)
Bloomberg 2026-07-27 08:00:00
Context: The concept of globalization has lost favor, and a new economic era is emerging. Branko Milanovic, an economist, has coined the term "national market liberalism" to describe this shift towards mercantilism and nationalism. This transformation marks a significant change from the previous era of free capital movement.
Key Facts
- Branko Milanovic has written a new book titled "The Great Global Transformation: The United States," which explores the changing global economic landscape.
- Milanovic's term "national market liberalism" describes a world where powerful governments are increasingly favoring mercantilism and nationalism over the free movement of capital.
- The shift away from globalization has led to a contraction in the free movement of capital, as governments are reorienting their economic policies towards national interests.