Business and Foreign Policy

Op-Ed

Medellin Wonders What Pelosi, Sweeney are Smoking

Author: Amity Shlaes
Bloomberg

To most U.S. citizens Medellin is code for all that is wrong with Latin America - the lawlessness, the drugs, the delusion that a network of thugs substitutes for a real economy. Congress feels about the same way- the approval of a bilateral free trade agreement between the U.S. and Colombia is in doubt. Amity Shlaes writes that a recent trip to this city found a powerful turnaround that argues not only for endorsing the FTA, but also taking a second look at the region.

See more in Colombia, Corruption and Bribery

Council Special Report No. 30

The Case for Wage Insurance

Author: Robert J. LaLonde

A flexible labor market and an open economy are crucial to economic competitiveness, but can sometimes cause prime-aged and older workers to suffer large, long-term income losses. This report explains why existing government programs, which emphasize retraining and insurance for short-term job loss, don't assuage workers' fears about globalization. It also proposes a shift of resources from existing programs to wage insurance.

See more in United States, Business and Foreign Policy, Labor, Trade