Recently a growing chorus of complaint has been raised against globalization. It is widely blamed for destroying U.S. jobs and reducing American wages. The authors of this book speak directly to these concerns. They demonstrate with straightforward prose and simple illustrations why the globaphobes are wrong. Globalization has not reduced the availability of jobs. Nor has it reduced the average wage. It has played only a small part in the deteriorating situation of America's least skilled workers. A challenge for Americans is to understand globalization and the benefits it brings. Equally important is the challenge of improving public policies aimed at reducing the very real pain of those Americans hurt by closer world economic integration. Globaphobia outlines a humane and practical program for advancing this goal.
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Gary Burtless is a senior fellow in Economic Studies at the Brookings Institution. Robert Z. Lawrence is professor of international trade and investment at Harvard University's John F. Kennedy School of Government. Robert E. Litan is director of the Economic Studies program at the Brookings Institution. Color graphs Policy Institute
--This text refers to the
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Most Helpful Customer Reviews
6 of 7 people found the following review helpful:
4.0 out of 5 stars
Excellent Information BUT Beware of Assumptions,
By Mark from DC (Washington, DC) - See all my reviews
This review is from: Globaphobia: Confronting Fears About Open Trade (Paperback)
Globaphobia is an important book for anyone trying to get a handle on the free trade arguments. The book is well written and addressed to a lay audience. One should be careful about some of the assumptions in the book, especially if one has no background in economics. I was required to get the book as a supplementary reading for an International Trade Theory course. I found it to be very helpful in getting a big picture understanding of current International Trade Theory. Buy the book; it is worth the relatively inexpensive price!
5 of 6 people found the following review helpful:
5.0 out of 5 stars
The Very First Book To Read on Globalization,
By
This review is from: Globaphobia: Confronting Fears About Open Trade (Paperback)
The ease of reading is exceptional. If you are worried about your limited understanding in economics and especially international trade, this is the book for you. In addition to the book being written and edited to be understood by nearly any modestly educated person it is further advantaged by authors that clearly understand the subject in great depth. As is so often the case the extremely well informed can write with such clarity for the lay reader.As nearly all economists understand net trade flows always equal net investment flows. Shockingly large numbers of media and congressmen do not understand this utterly simple formula. In a nut shell, with all the foreign money pouring into the USA treasuries market, stock market and direct business investments over the last several decades, it follows that the USA would run trade deficits equal to the net investment inflow over the same period. If you do not understand this or you want an ultra easy review of these simple facts, this book was made for you. In a grand gesture of national service these authors wrote the book that was needed for general understanding of what positive and negative points globalization means to the USA. It is not designed for academic kudos. If every modestly educated voter would read this book, the future of the USA and the world would be significantly brightened. While this is a pipe dream, at least read this book before you say one more word about globalization otherwise you may embarrass your self in the presence of informed people. If you are informed on economics please forgive my heavy handedness. It is not meant for you. This is a critical issue for underdeveloped nations and the mature nations, there is so much to be gained by informed voters on this subject. This book is carefully grounded in the proven principals of economics. While a reviewer or two gives an impression to the contrary, decades of reading in economics provides me the confidence to assure you that this book is profoundly well grounded. At each point where scholars may differ the authors and editors have carefully laid out its discussion. This is not a book written with a liberal or conservative bent. Modern economics encompasses a significant degree of science and mathematical logic. To view this book as otherwise, is to be illogical or unwilling to accept the most basic proven equations. Again you will not find an easier more meaningful book to read on economics. The USA economy for a variety of reasons has sharply declining need for workers without a high school education and places a continuing rising premium on post college education. Increasingly, those that can graduate from the elite institutions lead nearly a charmed life in the USA. Immigrants that are able to enter the USA with limited education are having increasing difficulty as the decades roll by. It is not clear that globalization is a meaningful factor in placing the such great educational needs on the American worker. This book helps frame the questions that might be asked about the rising importance of education in the USA. The book being about globalization does not dwell on this issue, but it does strongly suggest that the potential understanding of this issue of the exponentially rising need for superior knowledge is much broader than the globalization trend. The most provocative theme in the latter chapters of the book is the impact of globalization on those American workers that are poorly educated. The adverse impacts on this group comes from rapid technology changes, defective educational system, ineffective governmental assistance and to a very small degree open trade. The authors documentation about how little negative impact foreign trade has on a very limited number of workers is shocking. A source of another worthy book would be to provide a more exhaustive review of this aspect. The authors conclude that the popular obsession on this point should treated with a reorganized aggressive worker assistance program. Almost any reasonable assistance program would be a modest cost relative to the diverse and powerful benefits that all the rest of Americans get from open trade according to the authors. The authors are very negative on the effectiveness of government sponsored retraining. The book is highly critical of the governments ability to define injured parties in open trade without it being a political football. The authors suggest an assistance program that is indiscriminate as to the cause of worker misfortune and focuses on programs that show imperial evidence of effectiveness. The focal point is intermediate assistance for any lower income workers need to find new employment. While the left and the right quarrel about where to draw the line, the authors contend that so few people are in need relative to the benefits of open trade that just focusing on a well designed assistance program would make all the difference in giving support and comfort to the aggrieved relative to the huge benefits of open trade.
5 of 6 people found the following review helpful:
4.0 out of 5 stars
Stimulating ideas on globalization and the U. S. economy.,
By A Customer
This review is from: Globaphobia: Confronting Fears About Open Trade (Paperback)
An effective presentation of the positive and sometimes negative effects that open world trade has on the U. S. economy. It suggests thought-provoking ideas on how the United States and other national economies can ease the negative effects of globalization on their less-educated or poorly-prepared working populations. Our consulting staff recommends this publication as "semi-relaxed" reading when you are ready to let your mind roam and consider new ideas. John R. Jagoe, Director, Export Institute
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