Publication date:
20 October 2016Length of book:
258 pagesPublisher
Rowman & Littlefield PublishersISBN-13: 9781442272606
Americans know that something has gone wrong in this country’s effort to prosper in the face of growing global economic competition. The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for most Americans. This book is the story of what went wrong, and how to correct the course. It is a compelling history of the last four decades of US economic and trade policies that have left Americans unable to adapt to or compete in the current global marketplace. Failure to Adjust argues that, despite the deep partisan divisions over how best to respond to America’s competitive challenges, there is achievable common ground on such issues as fostering innovation, overhauling tax rules to encourage investment in the United States, boosting graduation rates, investing in infrastructure, and streamlining regulations. The federal government needs to become more like U.S. state governments in embracing economic competitiveness as a central function of government. The book presents an especially timely analysis of the trade policies of the Obama administration, and discusses how America can reassert itself as the leader in setting rules for international economic competition that would spread the benefits of global trade and investment more broadly.
In this critical—and thorough–—analysis of US government policies regarding the country’s involvement in the global economy during the last half century, the author (Council on Foreign Relations) concentrates on the changing competitive environment the US faces. In the process of assessing the impact of those changes, he discusses a wide range of policies and how they affect US economic progress and international relations. Those policies include not only tariffs and trade agreements but also domestic tax policies, government support for enhanced investment, improvements in the education system, immigration issues, and monetary policies as they influence the international role of US currency. Part of the analysis deals with state and local governments’ attempts to take advantage of international economic opportunities in the face of insufficient federal commitments. In the process, the author also provides an insightful history of worldwide economic transformation over the last 50-plus years. This analysis is very well written and documented and is strongly recommended to anyone interested in international trade and global economic development, especially as national policy pertains to them.
Summing Up: Recommended. Upper-division undergraduates through faculty.
Summing Up: Recommended. Upper-division undergraduates through faculty.