In The News

Is Globalization Sowing the Seeds of Its Own Undoing?

Jay Ogilvy October 14, 2016
Globalization’s fast pace is destabilizing, and the economic market is becoming more influential than the nation-state, writers have argued. Inequality is entrenched with economic and cultural divisions in education, income and employment. “Those ‘who can take advantage of the global economy’ are clearly benefiting from globalization and tend to cluster in the same clubs, colleges and communities...

World Bank Admits Some Have Lost Out From Free Trade

Kamal Ahmed October 12, 2016
The benefits of globalization and trade are not spread evenly, suggests a World Bank internal document reported on by BBC News. “Jim Kim, the head of the World Bank, told the BBC that he understood why people were angry in advanced economies despite the fact that free trade was one of the ‘most powerful’ drivers of growth and prosperity,” reports Kamal Ahmed for BBC. “Kim said that 20% of jobs...

A Giant Problem

September 19, 2016
In the age of globalization, giant “superstar companies” such as Apple and Google are skilled at eliminating competition which poses a risk for backlash. The Economist suggests that levels of market concentration in the Americas are especially worrying. Many corporations search out tax havens, evade regulations and collect data from customers. Public trust is wearing thin. The Economist urges...

Globalization Goes National

Tyler Cowen September 16, 2016
Global trade is slowing and a contributing factor could be that large and geographically fragmented nations focus on internal economic integration, as explained by Tyler Cowen for Bloomberg: “many nations lack integrated economic relations within their borders, and thus they could reap high gains from trade by opening up internally.” Improved communications via the internet strengthen internal...

US Economy: Citizenship for Sale

Kara Scannell September 14, 2016
US cities like Miami are using the EB-5 visa to attract wealthy investors. The program was designed to promote development in areas of need, but Kara Scannell of the Financial Times describes luxury office towers, hotels and retail complexes. “For a $500,000 investment in a project that creates at least 10 jobs in a high-unemployment area, a foreign national can eventually receive a green card...

Africa’s Economic Potential Hit Hard by Gender Inequality

Amy Copley September 12, 2016
A recent United Nations Development Project report shows how increased gender equality in Africa would create economic benefits for the region as a whole – for both men and women. Gender disparities in educational and economic opportunities and health care are persistent. The report suggests that reduced GDP represents billions of dollars of loss, with $104.75 billion in 2014 alone, as a result...

The World Comes to a Tiny Town: Eastport’s Lesson in Globalization

James Fallows September 12, 2016
Eastport, Maine – an aging town once known for its canned sardines – is a small-scale example of the globalization uniting all corners of the world. Eastport with its deepwater port reshapes its economy to remain relevant, but still confronts challenges that a generation ago may have mattered little to its residents. Three examples highlight Eastport’s global connections: EU regulations on...