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In RealTime posts, PIIE senior staff and colleagues discuss the fast-moving economic news, financial developments, and public policy choices confronting the United States and the world.
After nine months of being used as a pawn in a partisan battle, Trade Adjustment Assistance (TAA)—a small program that provides job search assistance and training to workers, firms, farmers, and fishermen hurt by globalization—is scheduled for a vote this week in the Senate. Hundreds of thousands of workers have been denied assistance since the [...]
After getting bailed out by taxpayers’ billions, banking is clearly viewed by the public and by regulators as needing to become more boring. In other words, to look less like the high return-on-equity sector of yesteryear and more utility-like, perhaps outlawing the most volatile, highly leveraged, and profitable in the short-term types of modern finance.1 [...]
We tend to think of globalization in the following way: the rich world exports financial capital, technology, sophisticated goods, and entrepreneurial and managerial skills in the form of foreign direct investment (FDI) to developing countries; the latter, in turn, export people, resources, and low-skilled goods to the rich world. Well, it turns out that globalization [...]