Under the North American Free Trade Agreement (NAFTA) beginning in 1994, the maquiladora sector was the dynamic manufacturing sector in Mexico, and its apparel subsector was especially so, more than quadrupling in employment from December 1993 to July 2000. Yet NAFTA's influence on apparel...

One cause of increasing polarization of income and wealth in the United States has been the shift in taxation, with corporate income tax revenues declining and individual income tax revenues rising as a share of total tax revenues. This change flows in part from a rise in the use of tax haven...

A dual economy model is used to analyze the preconditions for successful industrialization under different trading and investment regimes. Assuming increasing returns to scale in industry and decreasing returns in agriculture, it is shown that protectionism may aid economic development at some...

The ratio of trade (exports plus imports) to GDP is often used to gauge the orientation of a country's economic activity to the world market; but GDP measures value added, whereas trade is measured as gross value and double-counts imported inputs embodied in exports. High trade/GDP ratios can...

This paper questions the commonplace assumption that the accumulation of capital has become a global phenomenon. Evidence suggests that, far from transcending the boundaries of the nation state, productive investment remains an essentially national phenomenon. The great bulk of investment is...

Globalization and its Discontents is Joseph Stiglitz's attempt to articulate to a wide audience his trenchant critique of the International Monetary Fund, its vision of globalization and, in effect, the organization of the world capitalist system. This paper argues that while Globalization and...