The Wall and the Bridge: Fear and Opportunity in Disruption's Wake

The Wall and the Bridge: Fear and Opportunity in Disruption's Wake
ISBN-10
0300259085
ISBN-13
9780300259087
Category
Capitalism
Pages
248
Language
English
Published
2022-01-04
Publisher
Yale University Press
Author
Glenn Hubbard

Description

An informed argument for an economic policy based on bridges of preparation and adaptation rather than walls of protection and exclusion Free-market economists often have noted that there are winners and losers in a competitive capitalist world. The question of how to deal with the difficult real-life consequences faced by the losers, however, has largely been ignored. Populist politicians have tried repeatedly to address the issue by creating walls--of both the physical and economic kinds--to insulate communities and keep competition at bay. While recognizing the broad emotional appeal of walls, economist Glenn Hubbard argues that because they delay needed adaptations to the ever-changing world, walls are essentially backward-looking and ultimately destined to fail. Taking Adam Smith's logic to Youngstown, Ohio, as a case study in economic disruption, Hubbard promotes the benefits of an open economy and creating bridges to support people in turbulent times so that they remain engaged and prepared to participate in, and reap the rewards of, a new economic landscape.

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