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With the winds of trade war blowing as they have not done in decades, and Left and Right flirting with protectionism, a leading economist forcefully shows how a free and open economy is still the best way to advance the interests of working Americans. Globalization has a bad name. Critics on the Left have long attacked it for exploiting the poor and undermining labor. Today, the Right challenges globalization for tilting the field against advanced economies. Kimberly Clausing faces down the critics from both sides, demonstrating in this vivid and compelling account that open economies are a force for good, not least in helping the most vulnerable. A leading authority on corporate taxation and an advocate of a more equal economy, Clausing agrees that Americans, especially those with middle and lower incomes, face stark economic challenges. But these problems do not require us to retreat from the global economy. On the contrary, she shows, an open economy overwhelmingly helps. International trade makes countries richer, raises living standards, benefits consumers, and brings nations together. Global capital mobility helps both borrowers and lenders. International business improves efficiency and fosters innovation. And immigration remains one of America's greatest strengths, as newcomers play an essential role in economic growth, innovation, and entrepreneurship. Closing the door to the benefits of an open economy would cause untold damage. Instead, Clausing outlines a progressive agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy, improve tax policy, and establish a better partnership between labor and the business community. Accessible, rigorous, and passionate, Open is the book we need to help us navigate the debates currently convulsing national and international economics and politics.
Have you ever thought about what a free world would look like? What a world would look like in which men were free to trade with whomever they wanted and wherever they wanted? What a world would look like in which men could travel and live wherever they found it most advantageous and pleasurable? A world in which there were neither immigration restrictions nor emigration barriers? Almost none of us presently alive have ever known such a world, but it did exist once, and not that long ago, in America. Unfortunately, 21st-century Americans have abandoned the principles of freedom of their ancestors. They have accepted government as the sovereign power over their lives. This book presents the uncompromising moral and philosophical case for the right of individuals to trade and move freely wherever they desire without government restriction.
Examines the Open Door, the most influential U.S. foreign policy of the twentieth centuryIn 1899, U.S. Secretary of State John Hay wrote six world powers calling for an aOpen Door in China that would guarantee equal trading opportunities, curtail colonial annexation, and prevent conflict in the Far East. Within a year, the region had succumbed to renewed colonisation and war, but despite the apparent failure of Hays diplomacy, the ideal of the Open Door emerged as the central component of U.S. foreign policy in the twentieth century. Just as visions of aManifest Destiny shaped continental expansion in the nineteenth century, Woodrow Wilson used the Open Door to make the case for a world asafe for democracy, Franklin Roosevelt developed it to inspire the fight against totalitarianism and imperialism, and Cold War containment policy envisioned international communism as the latest threat to a global system built upon peace, openness, and exchange. In a concise yet wide-ranging examination of its origins and development, readers will discover how the idea of the Open Door came to define the American Century.Key FeaturesUncovers the ideological wellspring of U.S. foreign policy in the twentieth centuryPresents debates over U.S. foreign policy, including the aWisconsin School critique of the Open Door as a mechanism of informal empireReveals both the consistency of U.S. foreign policy thinking and offers a deeper context to critical foreign policy decisionsContextulises the roots of contemporary U.S. policy
Success from thirty years of American free trade agreements "in facilitating crossborder trade, boosting economic growth, raising productivity, and improving conditions for the creation of good jobs" are related to the future course of American trade policy.
In a provocative book about American hegemony, Christopher Layne outlines his belief that U.S. foreign policy has been consistent in its aims for more than sixty years and that the current Bush administration clings to mid-twentieth-century tactics--to no good effect. What should the nation's grand strategy look like for the next several decades? The end of the cold war profoundly and permanently altered the international landscape, yet we have seen no parallel change in the aims and shape of U.S. foreign policy. The Peace of Illusions intervenes in the ongoing debate about American grand strategy and the costs and benefits of "American empire." Layne urges the desirability of a strategy he calls "offshore balancing": rather than wield power to dominate other states, the U.S. government should engage in diplomacy to balance large states against one another. The United States should intervene, Layne asserts, only when another state threatens, regionally or locally, to destroy the established balance. Drawing on extensive archival research, Layne traces the form and aims of U.S. foreign policy since 1940, examining alternatives foregone and identifying the strategic aims of different administrations. His offshore-balancing notion, if put into practice with the goal of extending the "American Century," would be a sea change in current strategy. Layne has much to say about present-day governmental decision making, which he examines from the perspectives of both international relations theory and American diplomatic history.
The face of international trade is continuing to change rapidly. But while much attention is focused on where, post-Cancun, any new international negotiations under the auspices of the WTO may go, there are other developments of potentially equal importance. The United States, in particular, is prioritizing new regional trade agreements. This book focuses on the most ambitious of these negotiations -- the Free Trade Area of the Americas Agreement, which is due to be completed in 2005. This US initiative aims to replicate the NAFTA Agreement (which has bound the US, Canada and Mexico into a free trade area since 1994) across all 34 countries of South and North America (bar Cuba). This huge continental market is to be built around US-defined notions of free trade and protection of foreign investment, but will exclude the free movement of labour. This volume explains the origins and process of the negotiations -- both the complicated multilateral discussions and the bilateral agreements that have already been drafted. It explains in detail: * US strategy. * The structures and procedures of the Agreement. * The possible consequences for South America, including: Mercosur; Brazil, as Latin America's largest economy; and the region's many small economies, which cannot possibly compete on a level playing field with the US behemoth. * The wider implications of the FTAA for the global trading system, in particular for China, Japan and the EU. This book -- the first comprehensive, in-depth study of the FTAA -- will be of use to trade specialists, international economists, and all those interested in the FTAA, about which very little information is readily available in the public domain.