Re: Is free trade fair trade?

David Dollar: As I said, I consider myself to be a pragmatic progressive because I would be in favor of significantly more public spending on education  for example in the United States. But the pragmatic adjective means we have to be smart about how we do that. There are cases where we spend a lot of money and we don't get much result. So I think we need to look at what would actually lead to better educational outcomes in inner cities, for examples, and different kinds of communities in the U.S. But I would be in favor of spending a lot more on education. I would be in favor of some kind of national health system. I know this is controversial and I'm not the best expert to design the details, but I do think the United States could learn from other countries that have more successful systems that provide health insurance to more or less the whole population. So I think there are things you can do with health and education that would cushion a lot of families from some of the shocks that come with globalization. I'm also a fan of progressive taxation. Frankly I can get into the specifics of U.S. tax policy. As a World Bank official it 's not really my role; but I feel comfortable saying that I believe in progressive taxation. I think if a country has very good institutions . . . you know, good institutions, and property rights, and good educational system, I think you can have progressive taxation and you don't t have to worry that all your rich people are gonna leave because your country is actually a very nice, productive place to operate. So I think if the U.S. continues to strengthen its basic institutions, I don't think a lot of people will leave if tax rates go up modestly. So I would be in favor of using . . . These are your basic fiscal tools. How do you raise tax revenue? And then what public goods do you spend it on? I think that we can do a lot. I think any rich country can do a lot to make people's lives better and cushion some of the shocks of globalization, and i am completely in favor of that. Some of my critics caricature me as being something of a neoliberal, and I completely reject that. I think the free trade idea is a classic liberal idea, and I associate it with progressives going back a long way. So I don't see how cutting your economy from the rest of the world is a progressive idea when, from the point of view from the U.S., most of the rest of the world is poor. They wanna trade with the U.S. They want to come to the U.S. They want investment from the U.S. I don't see how cutting U.S. off from the poor world is in any way to progress an agenda.

Recorded on: 7/3/07



Dollar talks about making globalization more equitable.

The 10 most influential women in tech right now

These thought leaders, founders, and entrepreneurs are propelling the kind of future we want to be a part of.

Credit: Flickr, The Wall Street Journal, TechCrunch
Technology & Innovation
  • The tech industry may be dominated by men in terms of numbers, but there are lots of brilliant women in leadership positions that are changing the landscape.
  • The women on this list are founders of companies dedicated to teaching girls to code, innovators in the fields of AI, VR, and machine learning, leading tech writers and podcasters, and CEOs of companies like YouTube and Project Include.
  • This list is by no means all-encompassing. There are many more influential women in tech that you should seek out and follow.

Keep reading Show less

Teen popularity linked to increased depression in adolescence, decreased depression in adulthood

The results of this study showed depressive symptoms being highest in adolescence, declining in early adulthood and then climbing back up again into one's early 30s.

Credit: Dragana Gordic on Shutterstock
Mind & Brain
  • A 2020 Michigan State University study examined the link between teen social networks and the levels of depression later in life.
  • This study used data from the National Longitudinal Study of Adolescent to Adult Health, specifically targeting social network data. The results showed depressive symptoms being highest in adolescence and declining in early adulthood, then climbing back up again into one's early 30s.
  • There are several ways you can attempt to stay active and socially connected while battling depression, according to experts.
Keep reading Show less

90,000-year-old human hybrid found in ancient cave

Researchers have just discovered the remains of a hybrid human.

Researchers in a chamber of the Denisova cave in Siberia, where the fossil of a Denisova 11 was discovered. CreditIAET SB RAS, Sergei Zelensky
Surprising Science

90,000 years ago, a young girl lived in a cave in the Altai mountains in southern Siberia. Her life was short; she died in her early teens, but she stands at a unique point in human evolution. She is the first known hybrid of two different kinds of ancient humans: the Neanderthals and the Denisovans.

Keep reading Show less

In quantum entanglement first, scientists link distant large objects

Physicists create quantum entanglement, making two distant objects behave as one.

Credit: Niels Bohr Institute
Surprising Science
  • Researchers accomplished quantum entanglement between a mechanical oscillator and a cloud of atoms.
  • The feat promises application in quantum communication and quantum sensors.
  • Quantum entanglement involves linking two objects, making them behave as one at a distance.
  • Keep reading Show less