“No Big Deal” says Krugman

Gary Clyde Hufbauer, Cathleen Cimino 17 March 2014

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In a “man bites dog” column for the New York Times (February 27th), Paul Krugman, a self-proclaimed free trader, declared that the Trans-Pacific Partnership is “No Big Deal”. With free traders like this, who needs protectionists?

Equally disturbing as his headline, were the dubious justifications offered by Princeton’s Nobel Laureate.

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Topics:  Global governance International trade

Tags:  globalization, Trans-Pacific Partnership, trade liberalization

Lessons from the history of trade and war

Kevin Hjortshøj O’Rourke, Ronald Findlay 10 March 2008

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To many seasoned observers of the world economy, today’s globalisation is a largely technological phenomenon.1 Once learned, new technologies are typically not forgotten, which is why globalisation can seem an irresistible force, destined to bind us ever more tightly together for the foreseeable future. History, however, suggests that globalisation is as much a political as a technological phenomenon, which can thus be easily reversed, and has been so in the past.

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Topics:  International trade

Tags:  globalization, technology, industrialization, politics

Big governments and globalisation are complementary

Anna Maria Mayda , Kevin Hjortshøj O’Rourke 12 November 2007

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While economists have preached the virtues of free trade for over two centuries, the majority of their fellow citizens remain stubbornly protectionist. When over 60,000 people in 47 countries were asked in 1995-1997 whether they favoured free trade or stricter limits on imports, approximately 60% of them chose the latter option.1 As China and India rise to economic prominence over the coming decades, it is predictable that such opinions will become even more prevalent in Europe and the United States than they are now.

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Topics:  International trade

Tags:  globalization, free trade, government intervention

Offshoring may reduce income inequality in short term

Karolina Ekholm, Karen-Helene Ulltveit-Moe,

Date Published

Mon, 07/30/2007

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http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=6402.asp

The received wisdom about the relative wages of skilled workers in the US is that the wage gap is growing as the skill intensity within industries is increasing, and these changes in wage and employment structure are often attributed to skill-based technical changes rather than to globalization and trade. Since the early 1990s, however, the pattern has been different.

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