Norbert Lechner Lecture, Diego Portales University, Chile, November 14, 2018.

In a globally integrated capitalist economy borders between states are supposed to become economically irrelevant. Globalization is the ultimate form of liberalization; it shields free markets, instituted on a global scale, from national state intervention, in particular of a redistributive kind. Rather than markets located in states, under globalization states become located in markets. This has momentous consequences for the nature of statehood, both domestically and internationally. States located in markets lose the capacity to protect their economies and societies from market competition; in fact their economic role, if one is left for them at all, is to deregulate their national economies in order to make them more competitive, internally first and as a consequence externally as well. (…)

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