April 17, 2017

One More Question with Arthur Brooks

Arthur Brooks, president of the American Enterprise Institute, explains why he thinks the real argument for globalization is humanitarian. 

 

"In my business, in the think tank world, I find that people talk about globalization all the time but they don't usually make the best argument for it. They talk about the GDP growth implications or what it costs to particular economies when jobs are going overseas, but the most important argument for globalization is fundamentally humanitarian. When I was a kid we used to think that global poverty was an insoluble problem, that nothing could ever be done. But if you look at the difference between when I was a child and today, there's been an eighty percent decline in the world's worst poverty, in the percentage of the world's population living on a dollar a day or less. Two billion of our brothers and sisters have been pulled out of poverty, and there are five reasons for it: Globalization, free trade, property rights, the rule of law, and the spread of American-style entrepreneurship around the world. This is literally our gift to the world. And if we want to get the next two billion people, people that are really-- they're us around the world--but this hasn't reached them yet, then we have to spread these things even harder this is not about what it does to American GDP today, this is what the world is going to look like over the next 50 years and literally it's in our hands. That's the argument for globalization."

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