When trade comes up in conversation these days, a favorite talking point by people who oppose it is, “But it causes so much inequality, which outweighs the benefits.” The refrain has spread like wildfire through the left and the right, through key national and global institutions, even among...

Offshoring in the Global Economy Microeconomic Structure and Macroeconomic Implications Robert C. Feenstra The MIT Press Cambridge, Massachusetts London, England Contents Preface vii Lecture 1: Microeconomic Structure 1 Lecture 2: Macroeconomic Implications 59 Conclusions...

Since the early 1980s, the U.S. economy has experienced a growing wage differential: high-skilled workers have claimed an increasing share of available income, while low-skilled workers have seen an absolute decline in real wages. How and why this disparity has arisen is a matter of ongoing...