Visions and Revisions

the long version

This book examines the impact of "globalization" on the U.S. economy. Although temporarily muted by the "exceptional" state of the country's financial markets in recent years, a high level of employment, a low inflation rate, and extraordinary stock prices, the increased integration of the U.S. economy with that of the rest of the world has been controversial and a source of concern. The conclusion that emerges from this thought-provoking study is that much of the angst generated by the so-called globalization process is, at least at the present time, unjustified and that on balance the process has been beneficial.