Globalization: Curse or Cure? Policies to Harness Global Economic Integration to Solve Our Economic Challenge | Jagadeesh Gokhale | Cato Institute: Policy Analysis
Posted on February 3, 2010 by Atul
Globalization holds tremendous promise to improve human welfare but can also cause conflicts and crises as witnessed during 2007–09. How will competition for resources, employment, and growth shape economic policies among developed nations as they attempt to maintain productivity growth, social protections, and extensive political and cultural freedoms?
The processes associated with economic globalization— such as free trade, business outsourcing, capital mobility, and so on—generate considerable public apprehension because of the economic uncertainty they portend. But crossnational production supply chains have now become so extensive that the recession-induced decline in global trade is causing considerable economic distress in developed countries.
Jagadeesh Gokhale is senior fellow at the Cato Institute. His research focuses on entitlement reform, labor productivity and compensation, U.S. fiscal policy, and the impact of fiscal policy on future generations. This paper is a longer version of his article "Globalization, Economic Crisis, and the New 21st Century World Economic Order," in A New Conservative Agenda for the 21st Century (forthcoming).
via www.cato.org
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