March Books of the Month
Given February’s elevation of trade questions to the forefront of political debate, both of this month’s books are devoted to the topic — from slightly different directions. In the United States, arguments against the merits of free trade and investment tend to fluctuate with the business cycle. When growth is robust and times are good, ...
Given February's elevation of trade questions to the forefront of political debate, both of this month's books are devoted to the topic -- from slightly different directions. In the United States, arguments against the merits of free trade and investment tend to fluctuate with the business cycle. When growth is robust and times are good, the arguments made against globalization are non-economic: it deteriorates labor and environmental standards in other countries, it leads to cultural homogenization, yada, yada, yada. When growth is weak and times look uncertain, the arguments made against globalization are pitched to appeal to material self-interest: free trade causes unemployment, America is losing its "competitive advantage," yada, yada, yada. This month's two books address divide their labor in terms of defending the merits of free trade. Douglas Irwin's Free Trade Under Fire does an excellent job of demolishing the recession-based arguments made against free trade, while assembling all of the arguments and evidence for why trade is a win-win proposition. As for flush times, Jagdish Bhagwati's In Defense of Globalization marshalls considerable evidence that globalization does not need a human face because it already has a human face. By lifting people out of poverty, globalization is a cure for many social ills. Go check them out.
Given February’s elevation of trade questions to the forefront of political debate, both of this month’s books are devoted to the topic — from slightly different directions. In the United States, arguments against the merits of free trade and investment tend to fluctuate with the business cycle. When growth is robust and times are good, the arguments made against globalization are non-economic: it deteriorates labor and environmental standards in other countries, it leads to cultural homogenization, yada, yada, yada. When growth is weak and times look uncertain, the arguments made against globalization are pitched to appeal to material self-interest: free trade causes unemployment, America is losing its “competitive advantage,” yada, yada, yada. This month’s two books address divide their labor in terms of defending the merits of free trade. Douglas Irwin’s Free Trade Under Fire does an excellent job of demolishing the recession-based arguments made against free trade, while assembling all of the arguments and evidence for why trade is a win-win proposition. As for flush times, Jagdish Bhagwati’s In Defense of Globalization marshalls considerable evidence that globalization does not need a human face because it already has a human face. By lifting people out of poverty, globalization is a cure for many social ills. Go check them out.
Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner
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