Professor Kimberly Clausing, the Thormund Miller and Walter Mintz Professor of Economics at Reed
College, has authored a Harvard University Press book titled, “Open. The Progressive Case for Free Trade, Immigration, and Global Capital.” The reviews of the book are very
positive. I’ve pasted them below. Here is the abstract:
With the winds of trade war blowing as they have not done
in decades, and Left and Right flirting with protectionism, a leading economist
forcefully shows how a free and open economy is still the best way to advance
the interests of working Americans.
Globalization has a bad name. Critics on the left have long
attacked it for exploiting the poor and undermining labor. Today, the Right
challenges globalization for tilting the field against advanced economies. Kimberly
Clausing faces down the critics from both sides, demonstrating in this
vivid and compelling account that open economies are a force for good, not
least in helping the most vulnerable.
A leading authority on corporate taxation and an advocate of
a more equal economy, Clausing agrees that Americans, especially those with
middle and lower incomes, face stark economic challenges. But these problems do
not require us to retreat from the global economy. On the contrary, she shows,
an open economy overwhelmingly helps. International trade makes countries
richer, raises living standards, benefits consumers, and brings nations
together. Global capital mobility helps both borrowers and lenders.
International business improves efficiency and fosters innovation. And
immigration remains one of America’s greatest strengths, as newcomers play an
essential role in economic growth, innovation, and entrepreneurship. Closing
the door to the benefits of an open economy would cause untold damage. Instead,
Clausing outlines a progressive agenda to manage globalization more
effectively, presenting strategies to equip workers for a modern economy,
improve tax policy, and establish a better partnership between labor and the
business community.
Accessible, rigorous, and passionate, Open is the book
we need to help us navigate the debates currently convulsing national and
international economics and politics.
Here are the reviews from the
Harvard University Press website:
“Global integration will not work if it means local
disintegration. Kim Clausing’s important book lays out the economics of
globalization and, more important, shows how globalization can be made to work
for the vast majority of Americans. I hope the next President of the United
States takes its lessons on board.”—Lawrence H. Summers, Harvard University,
former Secretary of the Treasury
“It is all too easy to blame the recent troubles of advanced
economies—including slower growth, rising inequality, and lower social
mobility—on economic globalization. Kimberly Clausing’s comprehensive but
crystal-clear new book shows that ‘the fault lies not in our stars, but in
ourselves’: if only the political will is there, national policy can harness
globalization as a force for inclusive growth. This is a message that
thoughtful citizens of every political stripe need to absorb.”—Maurice
Obstfeld, University of California, Berkeley, and former Chief Economist,
International Monetary Fund
“Open provides a vitally important corrective to the
current populist moment. Clausing brings the underlying economics to life,
showing that walls won’t keep prosperity trapped within; they’ll keep new ideas
out, deter valuable foreign capital, close off investment opportunities,
prevent our businesses from learning from others, and destroy the vigor that
comes with a vibrant immigrant community. Most important, Open points
the way to a kinder, gentler version of globalization that ensures that the
gains are shared by all.”—Justin Wolfers, University of Michigan
“Anyone interested in the biggest economic debates of our
time would benefit from reading Open. Kimberly Clausing marshals a wide
range of evidence and analysis to address the question of how to advance the
prospects of the middle class. Her answer is a combination of timeless truths
about the importance of openness updated in often novel ways to address the challenges
of today’s global economy.”—Jason Furman, Harvard University, former Chairman
of the Council of Economic Advisers
“Clausing, a respected international economist and one of the
world’s leading experts on multinational firms’ responses to tax policy, has
created a clarion call for a return to reason by polarizing forces on both
sides of the political isle. There is something in here for people on both
sides to love and to hate, but plenty for everyone to learn.”—Katheryn Russ,
University of California, Davis
Hat tip to Professor Paul Caron’s
TaxProf Blog.
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