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Anti-Globalization Bias and Public Policy

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NEW YORK – Opponents of globalization constantly point to the uneven impact of open trade. Although trade liberalization can make the overall economic pie bigger, not everyone gets a larger slice, and many may receive a much smaller piece than before because of competition from foreign-made products. Such concerns help to explain why many blue-collar American workers voted for Donald Trump in the 2016 US presidential election, and why French farmers and workers often take part in anti-globalization demonstrations.

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    But we should not exaggerate the importance of this point. In fact, three other inherent anti-globalization biases are at work in many societies, and........

    © Project Syndicate