Echo park

The ideas of institutionalists are grounded in the fields of political science and international relations. They share many of the broad assumptions and arguments of market liberals—especially the belief in the value of economic growth, globalization, trade, foreign investment, technology, and the notion of sustainable development. Indeed, moderate institutionalists sit close to moderate market liberals. It is a matter of emphasis. Market liberals stress more the benefits and dynamic solutions of free markets and technology; institutionalists emphasize the need for stronger global institutions and norms as well as sufficient state and local capacity to constrain and direct the global political economy. Institutions provide a crucial route to transfer technology and funds to the poorest parts of the planet. Institutionalists also worry far more than market liberals about environmental scarcity, population growth, and the (more…)