Mobilization for Globalization

As economies move through cycles, the countries experiencing problems envy the countries enjoying growth. At this moment in time, US politicians and workers view China and India as “imminent threats to US prosperity and economic hegemony,” writes Steven Pearlstein for the Washington Post. Big imbalances in wages and benefits within the country prompt a majority of Americans to question the value of trade, immigration or globalization. “I have no doubt that Americans overstate the degree to which globalization is responsible for this economic malaise, just as I have no doubt that economists and business executives understate it,” Pearlstein notes. A majority of Americans have lost confidence in their economy, and yet candidates for US president fail to offer serious, logical, in-depth analysis about globalization. Americans can’t take steps to control globalization if they don’t understand the connections. Pearlstine recommends borrowing policies from Sweden, Silicon Valley and Russia: A progressive tax system, a health-care system disconnected from specific jobs and an unemployment program that includes specific training for realistic jobs would distribute globalization’s many benefits throughout society and reduce anxiety; a work environment that banishes bureaucracy and rewards innovation produces new products and profits; and a tough stance on any who manipulate the global economy can change the unwanted behaviors. Candidates and voters cannot afford to fear new approaches in tackling globalization head on. – YaleGlobal