Memo to the next President

“Americans who want to stop the world fear that the nation either already is or is destined to become a victim of globalization. Such pessimism seems downright un-American. It is also fundamentally illogical. After all, much of globalization amounts to Americanization — as numerous foreign critics have ruefully observed. The United States has long been the biggest, most open, most market-oriented and most competitive economy on earth. Globalization is now spreading these practices to the rest of the world, creating a huge, open, competitive global marketplace. But Americans are past masters of this game. How can we lose if the rest of the world decides to play on our field?”

(Alan Blinder, professor of economics and public affairs at Princeton and former vice chairman of the Federal Reserve. Former advisor of many Democratic politicians)

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