Labor & Economic News Blog

Thursday, November 20, 2008

What economics teaches about globalization

What economics teaches about globalization
The story of international trade for the American economy is not win-win, but rather good news, bad news. The good news is that some Americans will reap large rewards, and these rewards will actually be so large as to raise the average income of the entire American economy. The bad news is that many more Americans will lose ground. EPI's new book, Everybody Wins, Except for Most of Us, explains the simple economic theory easily found in almost any textbook that predicts how trade will have an upside and a downside. The book makes amply clear that it is time for the United States to begin its first serious political discussion about how to cut the majority in on the gains from international trade.

 



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