Better Globalization

  • The US economy has created as much wealth as any advanced economy, if not more so, but many have been left out of this wealth creation altogether.
  • Trade has been blamed for this, but the experience of some other, more open economies show that this doesn’t have to be the case.
  • While trade and technology create economic wealth, they also create economic disruption and it matters how countries deal with that.
  • It turns out that the US is good at the creation part of capitalist creative destruction brought by trade and technology, other countries deal better with the consequences of the destruction.
  • People are going to realize that better trade deals will not solve these problems, what else might they turn to next? Perhaps the gains of shareholders come into focus.


Source: Better Globalization | Seeking Alpha