Leading economists propose solutions to the problems of globalizationGlobalization has expanded economic opportunities throughout the world, but it has also left many people feeling dispossessed, disenfranchised, and angry. Luis Catao and Maurice Obstfeld bring together some of today's top economists to assess the benefits, costs, and daunting policy challenges of globalization. This timely and accessible book combines incisive analyses of the anatomy of globalization with innovative and practical policy ideas that can help to make it work better for everyone.Meeting Globalization's Challenges draws on new research to examine the channels through which international trade and the diffusion of technology have enhanced the wealth of nations while also producing unequal benefits within and across countries. The book provides needed perspectives on the complex interplay of trade, deindustrialization, inequality, and the troubling surge of nationalism and populism-perspectives that are essential for crafting sound economic policies. It tackles the vexing issue of how to most effectively compensate globalization's losers and reintegrate them into job markets. The book also explores how to design social insurance policies that can mitigate the risks posed by automation and offshoring, such as mass unemployment and its inherent dangers to democracy.With a foreword by International Monetary Fund Managing Director Christine Lagarde and a history-rich synthesis by Catao and Obstfeld of main policy takeaways, Meeting Globalization's Challenges features contributions by Ufuk Akcigit, Edward Alden, Francois Bourguignon, Angus Deaton, Rafael Dix-Carneiro, Jeffry Frieden, Gordon H. Hanson, Keyu Jin, Lori G. Kletzer, Anne Krueger, Paul Krugman, Nina Pavcnik, Andres Rodriguez-Clare, Dani Rodrik, Michael Trebilcock, Laura D. Tyson, Martin Wolf, and Ernesto Zedillo.
Show moreLeading economists propose solutions to the problems of globalizationGlobalization has expanded economic opportunities throughout the world, but it has also left many people feeling dispossessed, disenfranchised, and angry. Luis Catao and Maurice Obstfeld bring together some of today's top economists to assess the benefits, costs, and daunting policy challenges of globalization. This timely and accessible book combines incisive analyses of the anatomy of globalization with innovative and practical policy ideas that can help to make it work better for everyone.Meeting Globalization's Challenges draws on new research to examine the channels through which international trade and the diffusion of technology have enhanced the wealth of nations while also producing unequal benefits within and across countries. The book provides needed perspectives on the complex interplay of trade, deindustrialization, inequality, and the troubling surge of nationalism and populism-perspectives that are essential for crafting sound economic policies. It tackles the vexing issue of how to most effectively compensate globalization's losers and reintegrate them into job markets. The book also explores how to design social insurance policies that can mitigate the risks posed by automation and offshoring, such as mass unemployment and its inherent dangers to democracy.With a foreword by International Monetary Fund Managing Director Christine Lagarde and a history-rich synthesis by Catao and Obstfeld of main policy takeaways, Meeting Globalization's Challenges features contributions by Ufuk Akcigit, Edward Alden, Francois Bourguignon, Angus Deaton, Rafael Dix-Carneiro, Jeffry Frieden, Gordon H. Hanson, Keyu Jin, Lori G. Kletzer, Anne Krueger, Paul Krugman, Nina Pavcnik, Andres Rodriguez-Clare, Dani Rodrik, Michael Trebilcock, Laura D. Tyson, Martin Wolf, and Ernesto Zedillo.
Show moreAn honest and ambitious debate among the world's top economists about the real costs and consequences of globalization.
Lus A. V. Cato is associate professor in the Lisbon School of Economics and Management at the University of Lisbon. He was formerly a senior economist at the International Monetary Fund. Maurice Obstfeld is the Class of 1958 Professor of Economics at the University of California, Berkeley. He was formerly chief economist at the International Monetary Fund. He is a nonresident senior fellow at the Peterson Institute for International Economics.
"Catão and Obstfeld's book offers valuable insights into what
globalization can and cannot deliver. The rich diversity of
perspectives among a distinguished cast of contributors makes these
collective readings unique, stimulating, and informative to
policymakers, academics, and the general public at large."—Carmen
M. Reinhart, coauthor of This Time Is Different: Eight Centuries of
Financial Folly
"Bringing together leading experts who lay out the key issues we
face today, Meeting Globalization's Challenges offers a nuanced,
insightful, and balanced exploration that will serve as an
invaluable reference."—Pinelopi Goldberg, Chief Economist, World
Bank Group, and Elihu Professor of Economics, Yale University
"This is an extremely topical book that brings together an
impressive group of top economists to discuss pressing issues
related to globalization. A superb overview of a controversial
subject."—Douglas A. Irwin, author of Clashing over Commerce: A
History of US Trade Policy
"Economists tend to believe that globalization has been good for
humanity. The public often thinks it brings inequality,
unemployment, and social instability. This important book explains
how to reconcile these different perspectives with fresh thinking
about how the benefits of globalization can be preserved while the
risks can be better managed."—Minouche Shafik, director of the
London School of Economics, former deputy governor of the Bank of
England
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