Globaphobia: Continuing Fears About Open Trade - Hardcover

"There will be many other books that treat these and similar subjects... But it is difficult to imagine that there will be many better or more stimulating than [GLOBAPHOBIA]. The issues [GLOBAPHOBIA] raise[s] are the right ones. The solutions [it] suggest[s]... are equally correct." --Albert Fishlow, International Finance, 2:2, 1999 "Globaphobia deftly dissects the anti-trade arguments currently in vogue. An important book at an important time in the continuing debate over America's international posture. " --James A. Baker, III, Former Secretary of State "GLOBAPHOBIA knocks down the myths and misconceptions that too often cloud discourse concerning our increasing economic linkages with the rest of the world. The authors skillfully and impartially present data which establish that Americans overwhelmingly benefit from globalization through higher wages and better jobs... This highly readable handbook is a welcome addition for citizens interested in policies that enhance their economic well-being, and it should be required reading for all legislators." --Carla A. Hills, Former U.S. Trade Representative

For much of the post-World War II period, the increasing globalization of the U.S. economy was welcomed by policymakers and by the American people. We gained the benefits of cheaper and, in some cases, better foreign-made products, while U.S. firms gained wider access to foreign markets. The increasing economic interlinkages with the rest of the world helped promote capitalism and democracy around the globe. Indeed, we helped "win" the Cold War by trading and investing with the rest of the world, in the process demonstrating to all concerned the virtues of trade and markets. In recent years, however, a growing chorus of complaints has been lodged against globalization--which is blamed for costing American workers their jobs and lowering their wages. The authors of this book speak directly and simply to these concerns, demonstrating with easy prose and illustrations why the "globaphobes" are wrong. Globalization has not cost the United States jobs. Nor has it played any more than a small part in the disappointing trends in wages of many American workers. The challenge for all Americans is to embrace globalization and all of the benefits it brings, while adopting targeted policies to ease the very real pain of those few Americans whom globalization may harm. Globaphobia outlines a novel, yet sensible program for advancing this objective. Copublished with the Twentieth Century Fund and the Progressive Policy Institute