In today’s warming world, there is obviously a need for effective ways to limit greenhouse-gas emissions. But even a problem as complicated as climate change should not be left to technocrats. We all need to be involved, as citizens and as market participants. For their part, the defenders of capitalism need to figure out how to make the system more inclusive, so that it can claim the public’s support once again.
Harold James is professor of history and international affairs at Princeton University and a senior fellow at the Center for International Governance Innovation. A specialist on German economic history and on globalization, he is a co-author of the new book "The Euro and The Battle of Ideas," and the author of "The Creation and Destruction of Value: The Globalization Cycle," "Krupp: A History of the Legendary German Firm," and "Making the European Monetary Union."