This Global Show Must Go On

Living standards have improved immensely throughout the world since 1990, largely due to open trade and globalization. But ordinary observers and intellectuals increasingly express concern about the speed of globalization and suggest that applying some controls could ease climbing commodity prices and inflation. Slowing the global economy would be a challenge, argues economist Tyler Cowen for the New York Times, and people would quickly miss the many benefits and new ideas that accompany global exchanges. More scientists and innovations increasingly emerge from the developing world. Education, innovation and trade contribute to new comforts, cures for disease or alternative energy sources, Cowen notes. Limiting trade can only increase economic woes and resentment. Any politician or citizen who resents globalization should focus on improving local schools, developing an affordable and universal health-care program and supporting financial regulations that limit debt and excess. – YaleGlobal