Economic globalization suggests the need for political globalization  Economic interaction among the nations of the world, in the form of trade, investment and migration, has reached such a point today that it is meaningful to think of “the world economy.” Economic globalization suggests the need for political globalization in the form of a world government. Following the seminal work of John Maynard Keynes during the Great Depression of the 1930s, it has become widely accepted within the economics profession that a certain amount of interventionist national government policy is essential to maintaining a proper balance between the twin economic evils of unemployment and inflation. Just as judicious national anticyclical policy is beneficial to national economies, so too a judicious world anticyclical policy, as implemented by a functioning world government, would be beneficial to the world economy. A world government would also improve the overall functioning of the global economy by means of regularizing various circumstances of international economic interaction (for example, in the area of patents and copyrights), and by working to reduce various trade impediments (such as tariffs and quotas) imposed by national governments.