Bill Clinton’s former economic advisor suggests five principles that could form part of a public policy response to globalisation
- Take job creation seriously
- A “preemption strategy”, that gives workers options.
- Real dislocation insurance, not token retraining.
- Education — really.
- Break the deadlock on trade and global poverty reduction.
I think he has a point here, but all these principles can be put to practice only when the mindless demagoguery has tapered off.
Meanwhile in India, protectionist fears ever-present below the surface have started raising their head. It appears that India is now considering going slow on all the free-trade agreements. I would hate to see a repeat of the protectionist campaign speeches in India’s April general elections.