Open

A highly intelligent, fact-based defense of the virtues of an open, competitive economy and society. -- Fareed Zakaria * Global Public Square (CNN) * The one thing the American right and left increasingly agree on is that trade, capital flows, and immigration damage many if not most Americans. On the contrary, Professor Clausing of Reed College argues, openness to the world economy is a source of substantial gain. Neither liberal trade nor technological change is the enemy, it is foolish, even malevolent, policies that fail to help people and places to adjust to change and exploit new opportunities. * Financial Times * Amid a growing backlash against international economic interdependence, Clausing makes a strong case in favor of foreign trade in goods and services, the cross-border movement of capital, and immigration. This valuable book amounts to a primer on globalization. -- Richard N. Cooper * Foreign Affairs * An even-handed, fair-minded and up-to-the-minute primer on some of today’s most important economic debates. In [Clausing’s] consideration of who gains and who loses from economic openness, she makes a stout, evidence-led defense of the worldview disparaged as ‘globalism’ by both the Right and the Left. -- Oliver Wiseman * Standpoint * Takes on anti-globalization arguments from the left and right to make the case for open economies, while also investigating the domestic policy interventions required to address inequality in the United States. -- Rebecca Friedman Lissner * War on the Rocks * Global integration will not work if it means local disintegration. Kim Clausing’s important book lays out the economics of globalization and, more important, shows how globalization can be made to work for the vast majority of Americans. I hope the next President of the United States takes its lessons on board. -- Lawrence H. Summers, Harvard University, former Secretary of the Treasury It is all too easy to blame the recent troubles of advanced economies—including slower growth, rising inequality, and lower social mobility—on economic globalization. Kimberly Clausing’s comprehensive but crystal-clear new book shows that ‘the fault lies not in our stars, but in ourselves’: if only the political will is there, national policy can harness globalization as a force for inclusive growth. This is a message that thoughtful citizens of every political stripe need to absorb. -- Maurice Obstfeld, University of California, Berkeley, and former Chief Economist, International Monetary Fund Open provides a vitally important corrective to the current populist moment. Clausing brings the underlying economics to life, showing that walls won’t keep prosperity trapped within; they’ll keep new ideas out, deter valuable foreign capital, close off investment opportunities, prevent our businesses from learning from others, and destroy the vigor that comes with a vibrant immigrant community. Most important, Open points the way to a kinder, gentler version of globalization that ensures that the gains are shared by all. -- Justin Wolfers, University of Michigan Anyone interested in the biggest economic debates of our time would benefit from reading Open. Kimberly Clausing marshals a wide range of evidence and analysis to address the question of how to advance the prospects of the middle class. Her answer is a combination of timeless truths about the importance of openness updated in often novel ways to address the challenges of today’s global economy. -- Jason Furman, Harvard University, former Chairman of the Council of Economic Advisers Clausing, a respected international economist and one of the world’s leading experts on multinational firms’ responses to tax policy, has created a clarion call for a return to reason by polarizing forces on both sides of the political isle. There is something in here for people on both sides to love and to hate, but plenty for everyone to learn. -- Katheryn Russ, University of California, Davis Shows that globalization and free trade can, in fact, be redesigned to help struggling ordinary Americans. * ProMarket *