# Defending Globalization: Economics 

September 2023 

![Globalization - Econ - Dock worker standing at the harbor amidst shipping industry activity](/sites/cato.org/files/styles/aside_3x/public/2023-08/dg-econ2.png?itok=hi-RbGvG) 

#### Essays 

13-part series 

- [![Shipping containers and ships over a world Map ](/sites/cato.org/files/styles/mega_menu_aside/public/2023-09/Global-trade-shipping-map.png?itok=_uvJrCnh)](https://www.cato.org/publications/comparative-advantage) 

##### [Comparative Advantage](/publications/comparative-advantage) 

By [Donald J. Boudreaux](https://www.cato.org/people/donald-boudreaux)
- [![Women Smiling with Clipboards ](/sites/cato.org/files/styles/mega_menu_aside/public/2023-10/GettyImages-1156869867_0.jpg?itok=2ZPM5N9k)](https://www.cato.org/publications/globalization-race-bottom-or-top) 

##### [Globalization: A Race to the Bottom—or to the Top?](/publications/globalization-race-bottom-or-top) 

By [Johan Norberg](https://www.cato.org/people/johan-norberg)
- [![Bitcoin - Cryptocurrency](/sites/cato.org/files/styles/mega_menu_aside/public/2023-01/bitcoin1.jpg?itok=oe9D1CSG)](https://www.cato.org/publications/money-across-borders-how-cryptocurrency-has-opened-global-exchange) 

##### [Money Across Borders: How Cryptocurrency Has Opened Global Exchange](/publications/money-across-borders-how-cryptocurrency-has-opened-global-exchange) 

By [Nicholas Anthony](https://www.cato.org/people/nicholas-anthony)
- [![Couple watching television together and eating popcorn ](/sites/cato.org/files/styles/mega_menu_aside/public/2023-09/GettyImages-73970230.jpg?itok=7L6caSeb)](https://www.cato.org/publications/trade-buys-goods-services-time) 

##### [Trade Buys Goods, Services, and Time](/publications/trade-buys-goods-services-time) 

By [Gabriella Beaumont-Smith](https://www.cato.org/people/gabriella-beaumont-smith)
- [![Map of China with stock market and trade images overlaid](/sites/cato.org/files/styles/mega_menu_aside/public/2021-05/GettyImages-1160497333.jpg?itok=iLE5vmut)](https://www.cato.org/publications/china-shock) 

##### [The “China Shock” Demystified: Its Origins, Effects, and Lessons for Today](/publications/china-shock) 

By [Scott Lincicome](https://www.cato.org/people/scott-lincicome) and Arjun Anand
- [![Media Name: 201704_money.jpg](/sites/cato.org/files/styles/mega_menu_aside/public/raslider/201704_money.jpg?itok=mESjFngT)](https://www.cato.org/publications/currency-capital-flows-trade-balances-jobs) 

##### [Global Capital Flows and the Balanced Trade Myth](/publications/currency-capital-flows-trade-balances-jobs) 

By [Norbert J. Michel](https://www.cato.org/people/norbert-michel)
- [![taxes-coins-uncle-sam.jpg](/sites/cato.org/files/styles/mega_menu_aside/public/2021-03/taxes-coins-uncle-sam.jpg?itok=dhA3Uk2C)](https://www.cato.org/publications/global-tax-competition) 

##### [Competing for Capital: Tax Competition and Globalization](/publications/global-tax-competition) 

By [Adam N. Michel](https://www.cato.org/people/adam-n-michel)
- [![Cargo ships against a blue sky](/sites/cato.org/files/styles/mega_menu_aside/public/2023-05/GettyImages-543988758.jpg?itok=fYRmD_za)](https://www.cato.org/publications/separating-tariff-facts-tariff-fictions) 

##### [Separating Tariff Facts from Tariff Fictions](/publications/separating-tariff-facts-tariff-fictions) 

By Erica York
- [![Trade Agreements and prosperity](/sites/cato.org/files/styles/mega_menu_aside/public/2024-08/202408_tradeagreements.jpg?itok=-RNWvlDW)](https://www.cato.org/publications/how-trade-agreements-have-enhanced-freedom-prosperity-americans) 

##### [How Trade Agreements Have Enhanced the Freedom and Prosperity of Americans](/publications/how-trade-agreements-have-enhanced-freedom-prosperity-americans) 

By [Daniel Griswold](https://www.cato.org/people/daniel-griswold) and [Clark Packard](https://www.cato.org/people/clark-packard)
- [![Lichtenstein - International Finance Center](/sites/cato.org/files/styles/mega_menu_aside/public/2024-08/lichtenstein%20Cropped.jpg?itok=k4R6J8AH)](https://www.cato.org/publications/impact-international-financial-centers) 

##### [The Impact of International Financial Centers](/publications/impact-international-financial-centers) 

By Andrew P. Morriss
- [![Trade Shipping Containers](/sites/cato.org/files/styles/mega_menu_aside/public/2024-09/trade-shipping-containers%20Cropped.jpg?itok=X4T9WqvO)](https://www.cato.org/publications/trade-balance-winning-trade) 

##### [The Trade Balance and Winning at Trade](/publications/trade-balance-winning-trade) 

By Andreas Freytag and Phil Levy
- [![Trade Agreements and prosperity](/sites/cato.org/files/styles/mega_menu_aside/public/2024-08/202408_tradeagreements.jpg?itok=-RNWvlDW)](https://www.cato.org/publications/changing-trade-development-consensus) 

##### [Changing the Trade and Development Consensus](/publications/changing-trade-development-consensus) 

By [Douglas Irwin](https://www.cato.org/people/douglas-irwin)
- [![Tariff Image cropped](/sites/cato.org/files/styles/mega_menu_aside/public/2025-04/tarrif-image%20Cropped.jpg?itok=ecrR0HX-)](https://www.cato.org/publications/connection-between-imports-exports) 

##### [The Connection Between Imports and Exports](/publications/connection-between-imports-exports) 

By [Veronique de Rugy](https://www.cato.org/people/veronique-derugy)

Understanding the basic economics of globalization is essential for anyone interested in international trade, immigration, global supply chains, and related issues. The relevant concepts and data, however, can often be daunting and counterintuitive, and today’s discussions of globalization frequently confuse important facts, principles, and other economic issues that one needs to make informed decisions about the matters at hand.

The essays in this Defending Globalization series seek to remedy these problems by educating readers on the nuts and bolts of globalization economics in brief, accessible language written by experts in the field. Readers will be left with a fuller understanding of what economists and other scholars know about how globalization works and its actual effects in the United States and abroad.

[![Defending Globalization - Visual Feature - T-Shirt](/sites/cato.org/files/styles/promo_block/public/2025-01/Screenshot%202025-01-06%20at%202.40.20%20PM.png?itok=SOfWRzSJ)](https://www.cato.org/visual-feature/globalization-unfolded) 

##### Visual Feature 

### [Globalization, Unfolded](https://www.cato.org/visual-feature/globalization-unfolded)

In today’s interconnected world, even the simplest products can have complicated and counterintuitive stories we never see. Explore Cato’s production of a basic yet beloved wardrobe staple, the t‑shirt, in this interactive visual feature.

[Read more](/visual-feature/globalization-unfolded) 

[Return to Defending Globalization](/defending-globalization) 

##### About the Authors 

[![Nicholas Anthony Cropped](/sites/cato.org/files/styles/author_picture/public/2025-02/NicholasAnthony-cropped.jpg?itok=f4HYrot7)](/people/nicholas-anthony) 

##### [Nicholas Anthony](/people/nicholas-anthony)

Research Fellow, Center for Monetary and Financial Alternatives

[ 

](https://x.com/EconWithNick) 

[![Gabriella-Beaumont-Smith_Cropped.jpg](/sites/cato.org/files/styles/author_picture/public/2023-05/Gabriella-Beaumont-Smith_Cropped.jpg?itok=XNZR-WbT)](/people/gabriella-beaumont-smith) 

##### [Gabriella Beaumont-Smith](/people/gabriella-beaumont-smith)

Former Policy Analyst

[![Donald Boudreaux new cropped photo](/sites/cato.org/files/styles/author_picture/public/2023-08/bourdreaux-new-cropped.jpg?itok=gsO-o2Qn)](/people/donald-boudreaux) 

##### [Donald J. Boudreaux](/people/donald-boudreaux)

Adjunct Scholar 

![Andreas Freytag croppped](/sites/cato.org/files/styles/author_picture/public/2023-04/andreas-freytag-Cropped.jpg?itok=dS4bhKEn) 

##### Andreas Freytag 

Professor of Economics, Friedrich Schiller University

[![Dan_Griswold_cropped.jpg](/sites/cato.org/files/styles/author_picture/public/2022-02/Dan_Griswold_cropped.jpg?itok=mEktjV9Y)](/people/daniel-griswold) 

##### [Daniel Griswold](/people/daniel-griswold)

Adjunct Scholar

[ 

](https://twitter.com/danielgriswold) 

[![Douglas Irwin](/sites/cato.org/files/styles/author_picture/public/2024-04/douglas-irwin.jpeg?itok=UCjGUnkT)](/people/douglas-irwin) 

##### [Douglas Irwin](/people/douglas-irwin)

Professor of Economics, Dartmouth College

##### Phil Levy 

[![Scott Lincicome cropped](/sites/cato.org/files/styles/author_picture/public/2023-10/scott-lincicome-square.jpg?itok=qnTH2GB_)](/people/scott-lincicome) 

##### [Scott Lincicome](/people/scott-lincicome)

Vice President, General Economics and Stiefel Trade Policy Center, Cato Institute

[ 

](https://x.com/scottlincicome) [ 

](mailto:slincicome@cato.org) 

[![Adam N. Michel cropped](/sites/cato.org/files/styles/author_picture/public/2023-02/adam-michel-cropped.jpg?itok=2xIg84-_)](/people/adam-n-michel) 

##### [Adam N. Michel](/people/adam-n-michel)

Director of Tax Policy Studies, Cato Institute; Former Deputy Staff Director at the US Congress Joint Economic Committee

[ 

](https://x.com/adamnmichel) 

[![Norbert Michel Cropped](/sites/cato.org/files/styles/author_picture/public/2025-01/norbert-m-cropped.jpg?itok=8WIx97Dk)](/people/norbert-michel) 

##### [Norbert J. Michel](/people/norbert-michel)

Vice President and Director, Center for Monetary and Financial Alternatives, Cato Institute

[ 

](https://x.com/norbertjmichel) 

![Andrew P. Morris - Cropped Headshot](/sites/cato.org/files/styles/author_picture/public/2024-08/Screenshot%202024-08-09%20at%209.44.48%E2%80%AFAM.png?itok=AoEAl6uc) 

##### Andrew P. Morriss 

Professor, Bush School of Government & Public Service and School of Law, Texas A&M University

[![Johan Norberg cropped](/sites/cato.org/files/styles/author_picture/public/2023-11/johan-norberg-Cropped.jpg?itok=H292pden)](/people/johan-norberg) 

##### [Johan Norberg](/people/johan-norberg)

Senior Fellow, Cato Institute

[ 

](https://twitter.com/johanknorberg) [ 

](mailto:johan@johannorberg.net) 

[![Clark Packard Square headshot](/sites/cato.org/files/styles/author_picture/public/2022-03/ClarkPackard_sq2.jpg?itok=6QwVlh1V)](/people/clark-packard) 

##### [Clark Packard](/people/clark-packard)

Research Fellow, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute

[ 

](https://x.com/clark_packard) [ 

](mailto:cpackard@cato.org) 

[![Media Name: derugy.jpg](/sites/cato.org/files/styles/author_picture/public/authors/crops/derugy.jpg?itok=rdeuOdKY)](/people/veronique-derugy) 

##### [Veronique de Rugy](/people/veronique-derugy)

George Gibbs Chair in Political Economy and Senior Research Fellow at the Mercatus Center at George Mason University 

![Erica York](/sites/cato.org/files/styles/author_picture/public/2024-02/Erica%20York.png?itok=WPalt1SC) 

##### Erica York 

Senior Economist and Research Director, Tax Foundation