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NDN in FT
The Financial Times this morning prominently quotes Rob Shapiro, the Director of our Globalization Initiative, on the launch of the Hamilton Project's latest tranche of work. In something of a confirmation of arguments Rob and the rest of us have been making, the FT reports that this morning news: "Summers and Rubin to highlight lagging US wages".
Larry Summers, the last Treasury secretary of the Clinton administration, will on Tuesday join Robert Rubin, his immediate predecessor, in a high-profile drive to highlight stagnation in wage growth for the majority of workers in the US economy.
The article goes on to look in some detail at the recent dismal performance on incomes, which we and others have reported here before. The piece quotes Rob twice, in the first of which he links the wages issue back to Globalization
“What we are seeing is a major structural shift in the way the US economy works,” says Rob Shapiro, head of the New Democrat Network’s Globalisation Initiative, a centrist advocacy group. “The ripple effects caused by the supply shock of the entry of hundreds of millions of Chinese workers into the global economy has changed the way American workers benefit from trade.”
I'll be attending the Hamilton event. I'll have some reflections on it later. Rob and Simon are also planning a new Memo, which we will release later today and post on the blog, giving our updated thinking on some of these economic issues.