Introduction

Joseph Dillon Davey

A chapter in The Shrinking American Middle Class, 2012, pp 1-9 from Palgrave Macmillan

Abstract: Abstract Larry Summers is a man given to overstatement. The former director of Barrack Obama’s National Economic Council lost his job as president of Harvard over a few unfortunate remarks about the innate ability of female mathematicians. But he may well be proven correct about a prediction he made concerning what historians will view as the most important event in current human history: “the rise of Asia and all that follows it.” Nothing, according to Summers, will be more important than the trade, wealth, and jobs taken away from the developed economies of the West. The impact of the ongoing globalization of trade is like an iceberg that currently shows just a tiny part of itself above the water, and what we have seen thus far, while substantial, is trivial when compared to what lies in the future. We are about to see the competition for jobs and income in the United States be redefined by the globalization of trade.

Keywords: North American Free Trade Agreement; Tradable Sector; Cultural Implication; United Auto Worker; Nontradable Sector (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-29507-1_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137295071

DOI: 10.1057/9781137295071_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().