Thursday, 7 July 2016

Exit, voice, and loyalty: Lessons from Brexit for global governance (Uma Lele, Brookings)

Reuters/Paul Hackett - Protestors walk into Parliament Square during a 'March for Europe' demonstration against Britain's decision to leave the European Union, central London, Britain July 2, 2016.

Economist Albert Hirschman’s marvelously perceptive little book with big ideas written in 1970 titled “Exit, Voice and Loyalty: Responses to Decline in Firms, Organizations and States” provides a cornucopia of insights into understanding Brexit and the current state of global governance. When it emerged American economist Kenneth Arrow marveled at its extraordinary richness, and political scientist Karl Deutsch, in his presidential address to the American Political Science Association, called it an “outstanding contribution to political theory.”

http://www.brookings.edu/blogs/future-development/posts/2016/07/07-brexit-global-governance-lele

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