Economics

Article

How to Help Workers Laid Low by Trade—and Why We Haven’t

Author: Edward Alden
PBS NewsHour

"The failure to help American workers adjust to the new scale and intensity of global competition is one of the bigger mistakes of U.S. government economic policy in the last half century, one that has resulted in an enormous waste of human capacity and in eroding popular support for international trade and U.S. engagement with the world,” says Edward Alden in PBS NewsHour. 

See more in United States; Trade; Globalization

News Release

U.S. Has Failed to Ease Adjustment to Globalization and Free Trade, Says Alden in New Book

In Failure to Adjust: How Americans Got Left Behind in the Global Economy, Council on Foreign Relations Bernard L. Schwartz Senior Fellow Edward Alden explains why the political consensus in support of trade liberalization has collapsed, and how to correct the course.  The United States has contributed more than any other nation to writing the rules that created the competitive global economy of today, helping support stronger growth in much of the world. Yet successive U.S. administrations have done far too little to help Americans succeed under those rules, says Alden.

See more in United States; China; Globalization; Trade

Op-Ed

The Government Failed U.S. Workers on Global Trade. It Must Do Better on Technology.

Authors: Vivek Wadhwa and Edward Alden
The Washington Post

“Much more even than globalization, technology is going to create upheaval and destroy industries and jobs. This can be for the better, helping us create new and more interesting jobs or freeing up time for leisure and artistic pursuits. But unless we find ways to share the prosperity and help Americans adapt to the coming changes, many could be left worse off than they are,” argue Vivek Wadhwa and Edward Alden. 

See more in United States; Trade; Technology and Science

Article

How Cities and States Are Leading the Fight for More Beneficial Trade

Author: Edward Alden
PBS NewsHour

“The real progress has been not in Washington—where the idea of an active government role in promoting economic competitiveness remains suspect—but in the states and the largest cities. More and more local governments have taken the lead in developing competitiveness strategies that start from the premise that local prosperity depends in good part on success in international economic competition,” argues CFR Senior Fellow Edward Alden. This is an excerpt from his new book, Failure to Adjust: How Americans Got Left Behind in the Global Economy.

See more in United States; Competitiveness

Other Report

Global Economics Monthly November 2016

Author: Robert Kahn

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the Group of Twenty (G20) policymakers agree on the importance of stronger and more inclusive growth to address growing populism, but disagree on who—central banks, treasuries, or legislatures—should take the lead. This standoff all but guarantees that the global recovery will continue to disappoint.

See more in Global; Economics

Article

The Cult of the Expert—and How It Collapsed

Author: Sebastian Mallaby
The Guardian

Sebastian Mallaby uses the framework of central bank power to examine the rise and recent decline of the cult of the expert. He concludes that, ironically, experts need to play the political game if they hope to maintain their legitimacy; and that a healthy democracy is well served by a mix of public accountability and technocratic independence. 

See more in United States; Monetary Policy; International Finance