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Trade and Globalization

Get Money Into the Economy Now

  • By
  • Michael Lind,
  • New America Foundation
  • and Phil Angelides
January 15, 2009 |

Michael Lind is director of the American Infrastructure Initiative at the New America Foundation.  

There are worrying signs that what may end up being a stimulus package of a trillion dollars or more is being turned into an ordinary piece of legislation, with its content to be determined by politics, special interests and ideology.

Redoing Globalization

  • By
  • Sherle R. Schwenninger,
  • New America Foundation
January 12, 2009 |

The great financial bubble of the Clinton-Bush years has ended in tears--in home foreclosures, bank failures and what promises to be the most severe global economic recession since the Great Depression. As President-elect Obama puts together his economic recovery program, he needs to understand that the economic crisis is the result not just of unscrupulous mortgage lenders and unregulated investment bankers on Wall Street but of the globalization of finance and trade that key members of his economic team set in motion when they were in the Clinton administration. The uncomfortable truth is that the current system of global commerce and transnational finance is inherently prone to crisis and is incompatible with Obama's goal of rebuilding the American middle class. Any sustainable recovery on the domestic front, therefore, will depend on his success in getting other countries to agree to fundamental changes in that global system.

How to Save the World

  • By
  • Sherle R. Schwenninger,
  • New America Foundation
January 5, 2009 |

Dear Mr. President:

A Glimmer In The Global Gloom?

  • By
  • Reihan Salam,
  • New America Foundation
December 15, 2008 |

Over a long and satisfying string of holiday parties, I've been gauging the mood of friends and acquaintances in New York regarding the economic climate we've only half-jokingly come to call "The Depression." Because an unusually large number of my friends are in the arts, media, academia, the law and finance, I'm fully confident that I'm getting a badly distorted view of the coming crunch. These are, after all, the hardest hit sectors. One wag joked that we all belong to the "parasite class," and that the post-Depression economy will have no use for us.

The Policies That Ruined the Auto Industry

  • By
  • Barry C. Lynn,
  • New America Foundation
December 1, 2008 |

A lot of people are angry at the Detroit Three automakers, including many members of Congress. And why not?

GM, Ford and Chrysler seem still too bloated and old-fashioned, their workers too pampered. For too long the carmakers have failed to design and bring to market the smaller and more fuel efficient vehicles we now want to buy. Yet it is important to put the blame where it really belongs, not on management or labor, but on Congress.

South Korea's Kimchi Deficit

  • By
  • Gregory Rodriguez,
  • New America Foundation
November 3, 2008 |

There's probably no nation in the world more emblematic of the pitfalls and challenges of rapid modernization than South Korea. South Korean society is a caldron of competition and contradiction, caught between respecting the past and striving for the future.

NYC Event: It's the Economy... and the Environment

Monday, October 20, 2008 - 7:00pm

With sustainability at the top of the world’s agenda, the global business landscape is changing fast. Staying ahead of the curve requires dynamic leadership and systemic solutions that deliver solid financial, social and environmental results.

This discussion was hosted jointly by the New America Foundation and Business for Social Responsibility.

Capital in the Capitol

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
October 17, 2008 |

If anyone doubts the increasing importance of finance as a tool of foreign policy, one need look no further than Iceland, a NATO member, which this past week announced that it is in negotiations for a 4 billion euro bailout from Russia. Iceland's prime minister was blunt: "We have not received the kind of support that we were requesting from our friends, so in a situation like that one has to look for new friends."

Chinese Largesse

  • By
  • Reihan Salam,
  • New America Foundation
October 13, 2008 |

The financial crisis is raising serious questions about the future of American power. Can the United States sustain the burdens of global leadership while we dust ourselves off from what looks like a near-knockout blow to our economy?

Free Traitors

  • By
  • Christopher Hayes,
  • New America Foundation
October 8, 2008 |

Jagdish Bhagwati is a humble man. He will tell you so himself. Describing the effect of his book In Defense of Globalization during a speech at the John Hopkins School of Advanced International Studies (SAIS) last fall, the Columbia economist politely refused credit for single-handedly dampening growing concerns about the fallout from free trade. Fears of trade are "low-key," he said. "I won't say it's because of my book. I have colleagues who would say that. ... People believe I have a large claim to fame, so I don't have to do it myself."

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