"Dani Rodrik argues that the demise of the nation state is not as close as you may have been led to believe:
The Nation-State Reborn, by Dani Rodrik, Commentary, Project Syndicate: One of our era’s foundational myths is that globalization has condemned the nation-state to irrelevance. The revolution in transport and communications, we hear, has vaporized borders and shrunk the world. New modes of governance ... are ... supplanting national lawmakers. Domestic policymakers, it is said, are largely powerless in the face of global markets.
The global financial crisis has shattered this myth. Who bailed out the banks,... engaged in fiscal stimulus, and provided the safety nets for the unemployed...? Who is re-writing the rules on financial-market ... regulation to prevent another occurrence? ... The answer is always the same: national governments. The G-20, the International Monetary Fund, and the Basel Committee on Banking Supervision have been largely sideshows..."at http://economistsview.typepad.com/economistsview/2012/02/rodrik-the-nation-state-reborn.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+EconomistsView+%28Economist%27s+View+%28EconomistsView%29%29
