On November 2, 2006, the Carnegie Endowment for International Peace hosted a discussion on the future of globalization entitled, “Is Globalization Headed for the Rocks.” The panel included Kevin Hassett, of the American Enterprise Institute, Branko Milanovic, of the World Bank, and Thomas Palley, from Economics for Democratic and Open Societies. Carnegie’s
George Perkovich , who served as moderator, invited the speakers to comment on the challenges globalization poses and how those challenges might be met.
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Introduction by George Perkovitch, Carnegie Endowment for International Peace
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Remarks given by Kevin Hassett, American Enterprise Institute
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Remarks given by Branko Milanovic, World Bank
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Remarks given by Thomas Palley, Economics for Democratic and Open Societies
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Question by George Perkovitch, Carnegie Endowment on the structure of markets and the rules of the market
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Question by George Perkovitch, Carnegie Endowment on productivity growth and income growth
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Harley Balzer of Georgetown University expressed his reservations about relying on the good will of capitalists as a form of market self-regulation
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Bert Keidel of the Carnegie Endowment addressed the issue of poverty reduction in China.
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Carnegie Endowment staff asked about the World Bank and migration policy
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A student from the American Enterprise Institute asked if economists divided the workforce into productivity brackets as well as income brackets
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Ron Blackwell of the AFL-CIO mentioned a recent article in the Financial Times by Lawrence Summers that stated while global elites and the global poor have benefited from globalization, the vast global middle class has been left out.
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Wolf Brueckmann of Amcham Germany suggested it was a mistake to link productivity and growth to median wages because this obscures important phenomena.
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Bronson Lee of the Gallup Organization ask: What would meaningful immigration reform look like and how would it dovetail with trade preferences?
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A representative from the Millennium Institute asks about trade theory not reflecting the mobility of capital and labor.
A representative from the State Department reflected that nation states are losing power to those who control capital.
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