Globalization has brought huge overall benefits, but earnings for most U.S. workers -- even those with college degrees -- have been falling recently; inequality is greater now than at any other time in the last 70 years. Whatever the cause, the result has been a surge in protectionism. To save globalization, policymakers must spread its gains more widely. The best way to do that is by redistributing income.
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Although women have made large strides professionally over the last century, politics remains a man's world. Significant barriers stand in the way of more women assuming positions of political leadership -- not least women's own attitudes. If serious efforts are not made to break down these barriers, the world will miss out on the benefits that women can bring to policymaking.
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The market for higher education, like others, is becoming increasingly globalized -- and dominated by U.S. institutions. But despite predictions that U.S.-based global universities will surge as geographic and disciplinary barriers come down, the era of the global "megaversity" may not quite be at hand.
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Not long ago, the expansion of free trade worldwide seemed inevitable. Over the last few years, however, economic barriers have started to rise once more. The forecast for the future looks mixed: some integration will probably continue even as a new economic nationalism takes hold. Managing this new, muddled world will take deft handling, in Washington, Brussels, and Beijing.
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The massive growth of hedge funds has sparked warnings of instability and demands that the industry be regulated. But the fear of hedge funds is overblown, based on a misunderstanding of their role in the international financial system. In reality, hedge funds do not increase risk; they manage it -- and policymakers, rather than clamping down, should make sure hedge funds have the tools to perform this function well.
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Conventional wisdom has long assumed that economic liberalization undermines repressive regimes. Recent events, however, suggest that savvy autocrats have learned how to cut the cord between growth and freedom, enjoying the benefits of the former without the risks of the latter. Washington and international lenders should take note.
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