LOCAL CONFLICTS IN THE GLOBAL ECONOMY

Asymmetries in the Global Economy

Openness is not necessarily good for the poor. Reducing trade protection has not brought growth to today’s poorest countries, and open capital markets have not been good for the poorest households in emerging market economies. In this paper I present evidence on these two points. First, countries highly dependent on primary exports two decades ago, despite their substantial engagement in trade ...

Energy and the Global Economy

This article describes the contribution economists can make in uncovering energy choices capable of reducing carbon emissions on a global scale. All production and consumption activities involve the use of energy, and economists possess theoretical and analytic frameworks relating production and consumption in individual economies with international trade among them. Current challenges include ...

The Tertiary Economy: A Threat to the Global Economy

Offshoring in the New Global Political Economy

 This essay challenges claims by economists and management scholars that ‘offshoring’ is simply another form of trade with mutual benefits. I argue that reducing wages through offshoring leads to wealth creation for shareholders but not necessarily for countries and employees, and that many displaced workers have difficulty ‘trading up’ to higher skilled jobs. Offshoring is a new phenom...

The Indian Economy in Global Context

This paper reviews Indian economic policy and performance. It traces first how the economy evolved from independence through the 1980s. The early emphasis on industrialization through import-substitution led to a restrictive trade regime and sluggish growth in exports. Pervasive government regulations and controls over private economic activity during this period also impeded economic efficienc...