The shrinking state: Technologies that facilitate communication and commerce have curbed the power of some despots throughout the world, but in a globalized world governments take on new importance in one critical respect, namely, setting, and enforcing, rules with respect to contracts and property rights.
The shrinking state: Technologies that facilitate communication and commerce have curbed the power of some despots throughout the world, but in a globalized world governments take on new importance in one critical respect, namely, setting, and enforcing, rules with respect to contracts and property rights. The potential of globalization can never be realized unless there are rules and regulations in place, and individuals to enforce them. This gives economic actors confidence to engage in business transactions.