In The News

Globalization’s Second Death?

Niall Ferguson April 13, 2006
Globalization is in trouble when the US adopts a protectionist stance, argues Niall Ferguson. Extreme proposals, such as building an enormous fence along the US-Mexican border, reveal an isolationist attitude that could extend beyond the immigration issue. Politicians scrutinize the movement of labor, capital and goods in a way that calls to mind what Ferguson labels the “death of globalization”...

US Is Its Own Worst Enemy

Kevin Rafferty April 12, 2006
Opposition to the US creates both real and imagined threats to national security, yet the biggest threat for the US and the world comes from US policy and its formulators, both Congress and President Bush. After 9/11, the world displayed sympathy for the US, exemplified by the “Le Monde” headline – “We are all Americans.” Yet President Bush squandered cooperation with unilateral actions that...

In France, an Economic Bullet Goes Unbitten

Floyd Norris April 11, 2006
Most European politicians recognize the grim truth – that economic reform is necessary for global competition and that youth cannot expect the many benefits now enjoyed by elders. Generous retirement and other social benefits correlate with high unemployment among youth. Corporate executives have suggested that politicians must make the difficult decisions that lead to economic reform, likely...

Has Globalization Gone too Far?

Nagesh Kumar April 11, 2006
Developed nations express growing resistance to foreign takeovers of national enterprises – from Mittal Steel’s bid for Archelor based in Luxembourg to Dubai Ports World plan to take over terminal operations of six US ports. The resistance contradicts WTO proposals from the West that would have allowed foreign investors to establish or acquire any business entity in any country. Developing...

Globalization’s New Left

Nathan Gardels April 6, 2006
Policies meant to promote globalization – cutting public budgets, deregulating markets and liberalizing trade – have created new wealth, especially in Asia. Beneath the veneer of the growing global middleclass, however, is another story – that of the billion people worldwide who have been disenfranchised as their countries make the “structural adjustments” necessary to compete globally. In...

Invest Globally, Stagnate Locally

Daniel Gross April 6, 2006
US and European companies continue to accumulate wealth, yet neither the overall economies nor the labor forces have joined the ride. Traditional theory once suggested that climbing corporate profits promote investment, create jobs and increase consumer demand, eventually driving up wages as well. With global markets, companies enjoy far-reaching success, maintaining control over distribution...

Don't Give Up on WTO, Fix It

Richard G. Lipsey April 4, 2006
Contrary to what its most adamant critics maintain, the World Trade Organization (WTO) is a primary defense for poor and oppressed nations against exploitation from powerful nations and companies. Economist Richard G. Lipsey traces how the international institution that regulates trade emerged from policies facilitating globalization during the latter half of the 20th century. The WTO does not...