The financialization of the global economy produced the worst financial crisis since the Great Depression. The new arrangements which came into effect due to globalization, came with risks that the hyperglobalists did not foresee, although economic theory could have predicted the downside to globalization just as well as it did the upside.
Dani Rodrik is the Ford Foundation Professor of International Political Economy at Harvard's John F. Kennedy School of Government. Prior to this he was the Albert O. Hirschman Professor in the School of Social Science at the Institute for Advanced Study in Princeton (2013-2015). Professor Rodrik, an economist whose research covers globalisation, economic growth and development, and political economy, is currently President-Elect of the International Economic Association. His newest book is Straight Talk on Trade: Ideas for a Sane World Economy (2017).