Institutions : moving to the global?

Domestic (but not foreign) borrowing became cheaper after the 17th century financial revolution. Trilemmas present a way of weighing the losses and gains from trade-offs from capital openness. The policy limitations on democracy resulting from capital openness may be treated analogously. Limitations from the international system or order can also be treated in this manner. The 17th century domestic analogy suggests a need for coordinated or linked up global governance.