The global economic downturn has heightened concerns about intervention by global financial institutions and the maintenance of political stability. At least one, prominently-published article purports to show that signing on to an IMF structural adjustment program (SAP) increases the risk of...

Pessimists on globalization claim that liberalization of markets allows multinational corporations free reign, constraining local autonomy and precipitating a race to the bottom that will endanger recent democratic gains. The optimists see the end of dirigiste economic models as favorable for...

The skeptics of globalization argue that increased trade openness and foreign direct investment induce developing countries to keep labor costs low, for example by letting children work. This article argues that there are good theoretical reasons why globalization might actually have the...