It's interesting to have had this discussion while simultaneously being midway through the macroeconomics module of another course I'm taking. In my mind, globalization hasn't been kind to state expressions of public authority - what we've seen is that as multinational corporations grow and capital flows worldwide, nations have become careful to avoid upsetting MNCs and causing their business to be taken to another nation. This has allowed them to get away with quite a lot, from low corporate tax rates to outright privatization of previously public spaces.
While globalization has certainly resulted in economic prosperity, states have had to take a hit on the nose here, accepting reductions in their authority in order to preserve their own economic competitiveness on the global market and continue to preserve their own advantages. The boundaries of state power are becoming less rigid as a result of globalization, but what should the solution be?
In some cases, individual nations and economic blocs have had success in standing up to MNCs - the European Union's case against online videogame retailer, Steam, comes to mind here, in which the EU was able to implement consumer protection policies and force the distributor's hand into permitting refunds through their service, but these cases are few and far between. In absence of any kind of global public authority, it's difficult to fathom any significant checks on the ability of MNCs to usurp the authority of the state.
I guess I have more questions than answers here - is there even a desire for some kind of global public authority? If states are enjoying high growth rates and standards of living are improving for their citizens, do they particularly care if they are unable to project their sovereignty upon actors within their own borders as well as they once were?
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