The typical globalization narrative says that America leads the world in expanding open trade, liberalizing capital flows across borders and championing foreign direct investment. Sadly, this does not align with reality, according to economist Adam Posen. In this compelling article, he contends that the United States in fact pursues decades-old policies geared toward protectionism, trade restrictions, barriers to investment and curbs on immigration. While critics blame globalization for current US political, economic and social discord, Posen holds that the real culprit is America’s retreat from the international economic stage.
About the Author
Adam S. Posen is president of the Peterson Institute for International Economics.