Globalization has gotten a bad rap. The Trump White House associates it with all manner of economic evil, especially job loss. The administration has made undoing the damage a central part of its economic strategy. This will almost certainly fail and disappoint, because globalization's ill effects have been wildly exaggerated.
A new report shows why. It comes from the Peterson Institute for International Economics, a think tank. Granted, Peterson is widely known for its pro-trade views, so its support for globalization is no surprise. Still, it gives both sides of the story, and the numbers speak for themselves.
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