What About Globalization?
August 13th, 2008 -- Posted in American Politics | 11 Comments »So my cousin left just a few hours ago and I am back working on this blog, it has been raining for the majority of the last three days with flood warnings in some areas. Thankfully I am lucky enough not to live in these areas otherwise I wouldn’t be writing this entry at this very moment. I have had so many articles in the pipeline of late that it is hard to keep everything in chronological order however I would be remiss to forget to talk about The Century Foundation:
The Century Foundation, founded in 1919 by the progressive businessman Edward A. Filene, is a nonprofit public policy research institution committed to the belief that a mix of effective government, open democracy, and free markets is the most effective solution to the major challenges facing the United States.
A few months ago I became aware of progressive institutes like the Urban Institute and the Brookings Institute whose policy papers I have referenced in this blog. I became aware of the TCF through their public affairs office and upon inspection of some of the work, I realized that they would be a valuable resource for future blogging. The TCF recently ran a conference entitled: “Billionaires and their Impact” in which various personalities discussed issues surrounding the super rich in America. One such personality is Jeffrey Frieden a Professor at Harvard University whose recent video ties in to both candidates and their policies on globalization:
The audio is not crystal clear so you might have to listen to the video twice but the professor makes some poignant statements. The most interesting statement is his suggestion that governments should compensate people who lose out due to globalization. The problem with this compensation is that it cannot be done through taxation when the wealthier population can just move their money to other countries. I would argue that this movement can be curtailed with the appropriate legislation if not closures of a few tax loopholes. Conservatives might not like this but Professor Frieden states that there is a 1:1 correlation between globalization and the increasing income disparity in America therefore can anyone think of any other solution?
Professor Frieden’s opinions clash with those of Senator Obama who tends to be more protectionist with regards to U.S trade policy which many critics feel would negatively impact the U.S economy. Senator McCain on the other hand openly supports free trade such as the FTA with South Korea and Columbia which the McCain camp argues will benefit the U.S economy. Both sides make good points however what approach will benefit the U.S economy while minimizing losses to the people?
