The United States and Globalization: Where Do Things Stand?

Abstract

This chapter summarizes the main arguments and evidence presented in the previous chapters for assessing the net impact of international trade, international finance and immigration on the US economy. The chapter also highlights the key changes in economic policy that are needed to ensure that globalization proceeds on a basis that ensures that gains for the United States are maximized and more widely distributed, while costs are minimized. In this connection, the importance of a new social compact, including policies to deal with income inequality, is also highlighted.