Growing world trade: causes and consequences

Article Abstract:

Globalization is the most evident change the US economy is undergoing. Growth in world trade and investment primarily dominate economic policy. International economists account for the lifting of protectionist measures and the economic expansion after World War II as the causes for growth in world trade. The growth of low-wage produced exports is distinctively new in international trade and has caused wage inequality in the US and unemployment in Europe.

International trade, United States economic conditions

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It's baaack: Japan's slump and the return of the liquidity trap

Article Abstract:

The Asian financial crisis has moved the Japanese economy into a liquidity trap. It is a situation wherein traditional monetary policies have been rendered ineffective because of zero or near zero level nominal interest. Most countries try to counter this by adopting deflationary measures. In severe cases, even deflation or currency devaluation can not pull a country out of this condition. Liquidity traps can happen in full-employment economies.

Other General Government Support, Coinage & Currency, Economic aspects, Japan, Money, Monetary policy, Liquidity (Finance), Economic stagnation

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The narrow and broad arguments for free trade

Article Abstract:

There are two arguments to defend free trade against its opponents. The narrow argument is that trade policy is not the appropriate remedy for market imperfections because these are domestic distortions that can be remedied by specific policies. The broader argument involves politics as well as economics. Free trade may not be a perfect policy, but its alternatives are likely be harmful rather than beneficial.

Admin. of general economic programs, Noncommercial research organizations, Evaluation, Free trade

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