In The News

Ongoing economic growth, as well as international trade and investment, continues to lift millions from poverty and make national economies more interdependent. Globalization not only provides economic opportunities, but increases global resilience against all manner of crises. Yet, despite globalization’s many benefits, political forces could curtail or even reverse the phenomenon. Every nation...

Global competition provides the benefit of low-priced goods for the poorest citizens of the world and also has provided jobs that have lifted millions of people from poverty. But globalization has also meant lost jobs, benefits or security for other people. The challenge for policymakers throughout the world is to ensure that globalization’s benefits are widely shared, according to Ben Bernanke,...

Joseph Stiglitz, winner of the Nobel Prize for economics in 2001, complains about unfair trade, excessive debt and poverty, yet still argues that globalization offers enormous potential if managed properly by nations. He compares complaints about globalization to complaints about unemployment during the Great Depression of the 1930s: If governments had ignored economist John Maynard Keynes’ call...