This paper analyzes rules for international factor movements, i.e. real capital flows together with the relocation of firms, the flow of technology and the migration of people. These rules have to make sure that individuals, individual countries as well as the world economy benefit from factor...

The paper discusses the most important elements of an institutional order for a globalizing world economy. Rules for the exchange of goods, for factor movements, for the monetary domain and for the allocation of the environment are distinguished. It is analyzed in which direction these rules...

Die Vorstellung, die Wirtschaftspolitik könne auf die Globalisierung durch eine internationale Kooperation und Harmonisierung etwa der Sozialnormen antworten, ist ökonomisch nicht wohl begründet. Es ist eine Illusion, die Bedingungen für den Produktionsfaktor Arbeit weltweit harmonisieren zu...

The ongoing process of globalization, which is boosted by technological and political catalysts as well, increasingly raises public concerns. It is feared that international integration will be accompanied by national disintegration, since the income distribution in rich countries will become...

This paper studies the concept of an international economic order, i.e. an institutional arrangement of international rules. Such rules emerge from negative experiences – historical disasters – that inflict severe hardship on people. A taxonomy for rules reducing transaction costs is...