In an op-ed for the New York Times, Paul Krugman calls the Trans-Pacific Partnership (TPP) “No big deal”. This column looks at Krugman’s main arguments against the TPP. First, Krugman suggests spending political capital on domestic initiatives, and not on the TPP. Second, he argues that the pay-off from TPP will be trivial since tariffs are already low. The column points to a larger message in Krugman’s op-ed, namely that the era of globalization and policy-driven liberalisation is over.
Gary Clyde Hufbauer, Cathleen Cimino, Monday, March 17, 2014
Kevin Hjortshøj O’Rourke, Ronald Findlay, Monday, March 10, 2008
Globalisation is fundamentally political, not technological. This is the lesson from a new book tracing 1000 years of international trade history. Here the authors use lessons from the past to identify challenges for globalisation in the 21st century.
Anna Maria Mayda , Kevin Hjortshøj O’Rourke, Monday, November 12, 2007
The creed: Trade creates winners and losers, but the winners win more than the losers lose, so governments should boost public support for trade by creating ex ante mechanisms that share the pains and gains. Here is some evidence that it actually works.
Karolina Ekholm, Karen-Helene Ulltveit-Moe, Monday, July 30, 2007
In recent years, the skill premium in the US manufacturing sector is declining and the skill intensity increasing. The authors of CEPR DP6042 argue that this pattern can be linked to globalization and the rise in offshoring.