In The News

Wave Goodbye to the Invisible Hand

Steven Pearlstein August 4, 2008
An economic era centered around globalization could be fading away, argues columnist Steven Pearlstein for the Washington Post. Developing nations will continue benefiting from trade agreements, albeit without the frenetic fast growth, while developed nations will see fewer cost savings based on low wages in far-off lands. “It is not the protectionists of the AFL-CIO or CNN who are primarily to...

Shipping Costs Start to Crimp Globalization

Larry Rohter August 4, 2008
Manufacturers increasingly sought a competitive edge by subcontracting out work for all manner of parts, from batteries to textiles, to countries with the lowest wages. But that strategy was viable only with low energy costs. Companies trying to keep costs low will move more operations closer to markets to reduce fuel costs, especially for bulky or perishable items like food. “Globe-spanning...

Indian Poise

July 24, 2008
India’s coalition government of Prime Minister Manmohan Singh survived a crucial vote of confidence – and that paves the way for final approval of a US-India civil nuclear energy pact. The deal – which still requires approval from the International Atomic Energy Agency, the Nuclear Suppliers Group and US Congress – has raised some concerns, both domestic and among neighbors, about India’s...

What If the Candidates Pandered to Economists?

N. Gregory Mankiw July 21, 2008
Economists make up a tiny portion of the voting bloc and politicians rarely pander to them, perhaps because economists rarely speak with a single voice regarding any issue. However, economists do reach consensus on a few issues. For example, most economists support free trade, and argue that laws preventing free trade are nothing more than laws protecting special-interest groups from competition...

McCain's Economic Plan: Tax Cuts vs. Balanced Budget

Michael Cooper July 18, 2008
Candidates for president must demonstrate they are responsible with taxpayers' money. Early on, Senator John McCain voted against Bush administration tax cuts and has long argued in favor of balancing the massive US budget deficit. But as the presumptive Republican nominee, McCain has since argued in favor of making the tax cuts permanent. US government spending is on a roll, with the war in...

Bitten by the Deal That Once Fed Us

Gordon Laxer July 8, 2008
US Democrats’ criticism of the North American Free Trade Agreement during the presidential primaries has sparked concern in Canada that a Barack Obama White House might seek to renegotiate that trade deal on terms more favorable to the United States. That means Canada and Mexico could also tinker with the terms as well. Writing for the Global and Mail, Gordon Laxer argues that Canadians should...

Obama Will Give Free Trade a Rough Ride

Tony Parkinson July 1, 2008
Columnist Tony Parkinson argues that Barack Obama’s hostility towards free trade signals a loss of confidence in US trading partners that threatens, in turn, to cause those partners to lose confidence in the United States. The international community is eager to see an end to George Bush’s unilateralist attitude towards national security. Obama’s unilateralist attitude towards trade, however,...