What Is Globalization and How Has the Global Economy Shaped the United States?

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What is globalization and how has the global economy shaped the United States?  The Peterson Institute has all the answers with its newly launched and very first microsite, titled "What Is Globalization?" 

This interactive feature explains a term that has become toxic, especially in today's political environment. The goal is to educate the public and clarify misconceptions about globalization's impact. Understanding the relative costs and benefits can pave the way for alleviating problems while sustaining the advantages.

The Peterson Institute's new microsite covers:

• Why historical context is import.
• How trade helps each side.
• Demystifying job effects.
• Measuring the benefits vs. costs.
• The difficulties facing US-China Trade
• How to sustain globalization through policymaking.

Visit the What Is Globalization microsite.

Growth in Emerging Economies is Part of the Solution to America's Economic Woes

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In the Peterson Institute's newest book, Rising Tide: Is Growth in Emerging Economies Good for the United States?, Lawrence Edwards and Robert Lawrence conclude that rapid growth in emerging economies is part of the solution to America's economic problems rather than their source.

Read the news release here.  Excepts from the book for preview purposes only are available here.

Sample preview here:  Introduction [pdf]

Benefits to Globalization

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In his weblog for May 7, 2007, Dani Rodrik takes us to task for exaggerating the benefits of globalization in raising US household income and GDP. Professor Rodrik long ago established his reputation as a globalization skeptic; today he is the favorite Harvard economist among the backlash crowd. Eight years ago, Francisco Rodriguez and Rodrik (1999) notched their academic guns against Jeffrey Sachs and Andrew Warner (1995), expressing a skeptical view of the benefits of liberal trade policy to developing countries. As targets of Rodrik's latest outburst of skepticism, we share good company.

To debunk globalization proponents, Rodrik uses ...

read more here.

P.S. Dani has a great sense of humor. The picture of him on his blog states, "This is what the WSJ thinks I look like." When you visit his blog, you'll see the real Dani.