Beautiful Commentary on Globalization
A wonderful bit of commentary on globalization from a liberal economist’s point of view, found thanks to Marginal Revolution. The money quote:
I realize that some of you are disappointed that I agree with the orthodoxy by thinking that international economic integration is generally a good thing, despite the fact that I call myself “liberal”. And I realize that some of you think that economists are all simply brain-washed when it comes to international trade. But…if the vast majority of economists agree about something, it’s not because we are simply turning off our brains (and analytical power) on that one subject. It’s because the theory and evidence on the subject are convincing, and have withstood relentless efforts to debunk it. In general most economists think economic integration is a good thing, not because it’s convenient to do so, but because the work of thousands of extremely smart people working over decades has convinced us that it usually is.