Has Globalization Undermined the American Working Class?

Automatic TRANSCRIPT

America's working class has been cheated is an assertion that has been getting a lot of currency lately are last presidential election went deep on that claim in both parties by the way and the culprit most often blamed for that. It's that monstrous five syllable word globalization, the philosophy and the practice of free trade which has been great for companies and for shareholders but has had a devastating impact. It is argued on the American working woman and. Man Well Economist do agree that in the past four decades the American working class, which we're defining tonight as people who lack a four year college degree. They have seen flat wages and a steady disappearance of good jobs. But is globalization a main reason that that's happening to those workers and for those workers is globalization entirely bad. Well, we think this has the makings of a debate. So let's have it. Yes or no to this statement globalization. has undermined. America's working. Class I'm John Donavan, and I stand between two teams of experts in this topic who argue for and against this resolution globalization has undermined America's working class as always. Our debate will go in three rounds and then our live audience here at the Saint Regis Hotel and Aspen Colorado where we are appearing in partnership with the Aspen Ideas Festival will choose the winner and as always if all goes well civil discourse, we'll. Also win a resolution once again, globalization has undermined America's Working Class Jared Bernstein you have debated with us before. So welcome back you're a senior fellow at the center on Budget and policy priorities. You were Vice President Joe. Biden's chief economist. The last time you debated with US interestingly Jason Furman who is your opponent at the other table tonight was your debate partner as a team you were formidable formidable I, almost want to use the French pronunciation. Formula, so are you planning to use your insiders knowledge of Jason's debate battles against him to very much am the way to do that with Jason is to make a lot of sports analogies because they repealing confusing. All right. Thank you and I see you detail to Aspen. You were a to aspen well I. Think the guy with the tie is the guy you want to listen to, but I'll let you decide. All right. Thanks very much. Jared Bernstein and can tell us who your partner is. This someone I've known for twenty five years she's a dear friend of mine and I consider her my mentor in this topic feely gentlemen feeling. Theo welcome to intelligence squared your president of the Economic Policy Institute. You've spent two decades as an economist for the AFL CIO, which is America's largest federation of unions. It represents some twelve point, five, million working women and men. You've spent twenty five years working on trade policy. So what got you interested in trade? Well, when I came to Washington in the early nineties I got drawn. INTO THE NAFTA debate the North American Free Trade. Agreement. And I realized pretty early on that. This was not some kind of a dry text book discussion about tariffs but it was a transnational battle over democracy good jobs, workers, rights, and regulation. So I was hooked because a lots at stake a lot is at stake. Okay. Thanks very much thelia once again, team arguing for the motion. And motion again, globalization has undermined America's working class. We have to debaters arguing against it, I Jason Firm. Welcome back to intelligence squared Jason you're a professor of the practice of economic policy at the Harvard Kennedy School you're a senior fellow at the Peterson Institute for International Economics, you were Chairman of the Council of Economic Advisers under President Obama tonight. As we said, you're going to be debating your former colleague Jared Bernstein on the impact of globalization. So is this the first time you to have debated the globalization issue with each other jared and I agree on I'd say about ninety five percent of economic issues and my goal tonight is to bring to one hundred percent. Thanks very much Jason and can you tell us who your partner is someone I've only known for a few years and every single thing. He's ever told me I have believed James Manica Legitimate James Manyika. Welcome the first time telling squared you're a senior partner at McKinsey, and company you're the chairman of their economics research arm, the McKinsey Global Institute, your first time debating with us. But not your first debate you debated at Oxford I did you studied robotics and computers earlier in your career you were visiting scientist at NASA. So how do you go from very eclectic from robotics and space to thinking about trade policy? In American. Workers I've always been fascinated by the kinds of technologies that drive innovation and growth, but also affects what will people in the real world actually do. So when you put that together with the economy, these issues around trade and workforce become very, very important. Those are the issues that motive a great perspective to bring here and then once again, thank you. Thank you again to the team arguing against them.

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