While fully agreeing with Prof Stiglitz for greater global cooperation I would like to say that the capital invested in built up capacity of many global non global corporations, for cost benefit calculation, and to meet the rising global demands of both industrial and personal consumption taken together,on the basis of present technical basis will not allow any country to take any rational political decision that disintegrate the global market and suffer stagnation or contraction of demand resulting in deflation and rising per capita costs and shrinking of profit margins and loses.this is the reason and rationale of global cooperative economic and political integration.



But human mass psyche affecting national political process acts in opposite direction in many cases in an irrational way by immediate considerations via political extremism, overstatements,protests by some running fast or falling behind the run. the countries population whose productivity is above global average urge for change and those falling below against change. This is as natural as an individual behaviour. if global governance bodies are in existence, they maximise the production with equitable distributive justice through compensatory measures to mitigate the hardships.



If no such governance body or one like the present UN, ill equipped to do justice to the lost in running competition, the disintegrating political voices/forces galvanise to act in many tines as destructive forces of globalisation and with it negate very orderly growth of human civilisation path.



It is therefore political global governance body is a necessary condition for effective globalised economic markets and free trade and for securing liberty and security to persons through global cooperation.