OPEN

With the winds of trade war blowing and the political left and right flirting with protectionism, a leading economist forcefully shows how a free and open economy is still the best way to advance the interests of the working classes.

Globalization has a bad name. Critics on the left have long attacked it for exploiting the poor and undermining labor. Today, the right challenges globalization for tilting the field against advanced economies. Kimberly Clausing faces down the critics from both sides, demonstrating in this vivid and compelling account that open economies are a force for good, not least in helping the most vulnerable.

A leading authority on corporate taxation and an advocate of a more equal economy, Clausing agrees that people in the developed world, especially those with middle and lower incomes, face stark economic challenges. But these problems do not require a retreat from the global economy. On the contrary, she shows, an open economy overwhelmingly helps. International trade makes countries richer, raises living standards, benefits consumers, and brings nations together. Global capital mobility helps both borrowers and lenders. International business improves efficiency and fosters innovation. And immigration remains a great strength, as newcomers play an essential role in economic growth, innovation, and entrepreneurship. Closing the door to the benefits of an open economy would cause untold damage. Instead, Clausing outlines a progressive agenda to manage globalization more effectively, presenting strategies to equip workers for a modern economy, improve tax policy, and establish a better partnership between labor and the business community.

Accessible, rigorous, and passionate, Open is the book we need to help us navigate the debates currently convulsing national and international economics and politics.

Kimberly Clausing is Thormund Miller and Walter Mintz Professor of Economics at Reed College. She is one of America's leading experts on the taxation of multinational corporations, a subject on which she has testified before Congress. Clausing has written for the New York Times and Fortune and spoken on National Public Radio.