Trade & Globalization

The Way Forward

  • By Daniel Alpert, Westwood Capital; Robert Hockett, Professor of Law, Cornell University; and Nouriel Roubini, Professor of Economics, New York University
October 10, 2011

Notwithstanding repeated attempts at monetary and fiscal stimulus since 2009, the United States remains mired in what is by far its worst economic slump since that of the 1930s.1  More than 25 million working-age Americans remain unemployed or underemployed, the employment-to-population ratio lingers at an historic low of 58.3 percent,2 business investment continues at historically weak levels, and consumption expenditure remains weighed down by massive private sector debt overhang left by the bursting of the housing and credit bubble a bit over three years ago.

German Guilt Wears Thin

  • By
  • Gregory Rodriguez,
  • New America Foundation
October 2, 2011 |

My German 3 summer school instructor at Berkeley once pulled me aside after class to accuse me of having a deep-seated hatred toward all things German. Irritated, I told her, “Yeah, that’s why I’m spending my summer learning your damn language.”

More than 20 years later, my German-language skills are just as lacking as before, but my relationship to the Fatherland is as complicated as ever. I don’t hate Germany. But, apart from being fond of Berlin (whose openly gay mayor calls it “poor but sexy”), I don’t exactly love Germany either.

Got Cheap Milk?

  • By
  • Charles Kenny,
  • New America Foundation
September 19, 2011 |

As the U.S. government starts planning budget reductions that will slash everything from defense spending to health care to bridge repair, potential cuts worth around 0.00025 percent of the value of the deficit reduction agreed on in the recent $2 trillion deal appear to have garnered outsized attention: support to farmers' markets. Those $5 million of subsidies are likely to disappear as part of cuts in the 2012 farm bill, and that is provoking much concern.

Losing Middle America?

  • By
  • Lauren Damme,
  • New America Foundation
September 15, 2011

Is the American Dream of opportunity and increasing prosperity out of reach for the average American worker? What is happening to the American middle class? If the labor market ‘polarizes’ into low- and high-income jobs, what does this mean for continuing inequality in America? What does it mean for the American social contract, and the American Dream?

The New Epicenter of China's Discontent

  • By
  • Christina Larson,
  • New America Foundation
August 24, 2011 |

This northeastern port city, with its gleaming skyscrapers, seaside yacht club, and Cartier and Armani boutiques on People's Road, might seem about the least likely site for one of China's largest protests in years. Dalian is, after all, the host of regional World Economic Forum meetings, where Davos Man comes to China; a center of electronics manufacturing; and a popular holiday destination.

A Call for Bi-Sectoralism

August 22, 2011

In today's Huffington Post, Bruce Jentleson, a policy wonk, and Jay Pelosky, a seasoned global investor, argue that the public and private sectors in the United States must cooperate if the country is to "revitalize domestically and compete globally."

A Vision for Economic Renewal

  • By Task Force on Job Creation
July 26, 2011

The economic environment in America today is more dire than most of us have ever known. We are in the midst of an unemployment emergency, in essence a jobless recovery: notwithstanding recent marginal upticks in official U.S. jobs numbers, there will be no fundamental improvement in the unemployment picture unless major new national economic strategy initiatives are taken. Who will step up to drive them forward?

A Global Minimum Wage System

  • By
  • Thomas Palley,
  • New America Foundation
July 22, 2011 |

The global economy is suffering from severe shortage of demand. In developed economies that shortfall is explicit in high unemployment rates and large output gaps. In emerging market economies it is implicit in their reliance on export-led growth. In part this shortfall reflects the lingering disruptive effects of the financial crisis and Great Recession, but it also reflects globalization's undermining of the income generation process.

A Global Minimum Wage System

  • By
  • Thomas Palley,
  • New America Foundation
July 19, 2011

The global economy is suffering from severe shortage of demand. In developed economies that shortfall is explicit in high unemployment rates and large output gaps. In emerging market economies it is implicit in their reliance on export-led growth. In part this shortfall reflects the lingering disruptive effects of the financial crisis and Great Recession, but it also reflects globalization’s undermining of the income generation process. One mechanism that can help rebuild this process is a global minimum wage system. That does not mean imposing U.S.

Trading Against Colombia

  • By
  • Lauren Damme,
  • New America Foundation
  • and David Callahan, Demos senior fellow
July 13, 2011 |

Earlier this month, Congress took up a major trade package that includes free-trade agreements with Colombia, Panama and South Korea. All these pacts are flawed in their own way, but none is more problematic than the proposed deal with Colombia, which would reward a political elite that has long repressed labor unions and could devastate that country's rural farmers.

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