Open: The Progressive Case for Free Trade, Immigration, and Global Capital
February 27, 2019 @ 4:00 pm - 6:00 pm
In Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press), Clausing makes the argument that Americans, especially those with middle and lower incomes, face stark economic challenges due to rising income inequality and wage stagnation. But these problems do not require us to retreat from the global economy. On the contrary, an open economy overwhelmingly helps. International trade raises living standards, benefits consumers, and makes countries richer, bringing nations together. Global capital mobility helps both borrowers and lenders. International business improves efficiency and fosters innovation. And immigration remains one of America’s greatest strengths, as newcomers play an essential role in economic growth, innovation, and entrepreneurship. Closing the door to the benefits of the open economy would cause untold damage for Americans. Instead, Clausing outlines a progressive agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy, to modernize tax policy for a global economy, and to establish a better partnership between society and the business community.