Globalization And Progressive Economic Policy

Prominent economists analyze the impact of the emerging global economy on national sovereignty and standards of living.

A Financial Times Best Economics Book of the Year A Foreign Affairs Best Book of the Year “A highly intelligent, fact-based defense of the virtues of an open, competitive economy and society.” —Fareed Zakaria, Global Public Square, CNN “Amid a growing backlash against international economic interdependence, Clausing makes a strong case in favor of foreign trade in goods and services, the cross-border movement of capital, and immigration. This valuable book amounts to a primer on globalization.” —Richard N. Cooper, Foreign Affairs Critics on the Left have long attacked open markets and free trade agreements for exploiting the poor and undermining labor, while those on the Right complain that they unjustly penalize workers back home. Kimberly Clausing takes on both sides in her compelling case that open economies are actually a force for good. Turning to the data to separate substance from spin, she shows how international trade makes countries richer, raises living standards, benefits consumers, and brings nations together, and outlines a progressive agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy, and establish a better partnership between labor and the business community.

Up-to-date study of the key features of 'late capitalism, ' especially in the U.S., and how it has been shaped by military budgets and globalization. Most important, the author offers ideas for organizing for social change in the direction of all-around democracy.

The neo-liberalism that dominated economic thinking since the advent of Thatcher and Reagan is now seen to have serious flaws. Progressive Capitalism seeks to replace it with a new Progressive political economy, based on an analysis of why the growth rates of countries differ, and what firms have to do to achieve competitive advantage in today's global economy. The cornerstone of the political economy of Progressive Capitalism is a belief in capitalism. But it also incorporates the three defining beliefs of Progressive thinking. These are the crucial role of institutions, the need for the state to be involved in their design, and the use of social justice defined as fairness as an important measure of a country's economic performance. Progressive Capitalism shows how this new Progressive political economy can be used by politicians and policy-makers to produce a programme of economic reform for a country. It does this by analysing and proposing reforms for the UK's equity markets, its system of corporate governance, its national system of innovation and its education and training system. Finally, Progressive Capitalism describes the role the state should play in the economy - an enabling one, rather than the command-and-control role of traditional socialism or the minimalist role of neo-liberalism.

This book examines the key debates about globalization and provides a detailed and incisive analysis of the varied and often contradictory opposition to globalization within the United States. Subjects covered include: * the historical context of the development of globalization in the US in the post-war period * opposition to the North American Free Trade Agreement (NAFTA), the General Agreement on Trade & Tariffs (GATT) & the World Trade Organisation (WTO) * the nationalist response to globalization from 'militia' groups and others on the extreme right * the populist backlash against globalization * recent moves by advocates of the free market to present 'globalization with a human face'.

'Globalization' systematically encompasses the debates and the results of research of political scientists on various core aspects of the interrelation between politics and economics in the process of globalisation.

World trade and investment law is in crisis: new and progressive ideas are needed. Rules that facilitated globalization and supported global economic growth are being challenged. A system of global governance that once seemed secure is now at risk as the United States ignores the rules while developing countries struggle to escape restrictions. Some want to tear global institutions and agreements down while others try desperately to maintain the status quo. Rejecting both options, a group of trade and investment law experts from 10 countries, South and North, have joined hands to propose ideas for a new world trade and investment law that would maintain global growth while distributing costs and benefits more fairly. Paying special attention to those who have suffered from trade dislocation and to restrictions that have hampered innovative growth strategies in developing countries, they outline a progressive trade and investment law agenda in "World Trade and Investment Law Reimagined".

Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book.