![]() ![]() and in other countries-addressing currency misalignments developing international policies to enable countries to tax capital income, including clamping down on abusive tax havens instituting an international financial transactions tax and harmonizing national policies aimed at combating global climate change. Reorient international policy away from regressive trade agreements and toward measures that will benefit workers in the U.S.Stop pursuing new omnibus trade agreements that protect returns to capital while undercutting wages.Use domestic policy to compensate (offset the losses to) negatively affected workers-but the first step is acknowledging the large scale of these losses.What can be done about it: To remedy the situation, the United States can: Globalization has been used as a tool to shift economic leverage and power away from low and middle-wage workers, and this has contributed to the anemic wage growth for this group. Why it matters: Intentional policy decisions have amplified the costs of globalization to American workers on its losing end. The effects of globalization and our failed policy response to it are not just a problem for white manufacturing workers in the Rust Belt, but in fact affect the majority of workers and likely fall disproportionately on the wages of nonwhite workers. Passing trade agreements that have consistently aimed to undercut workers’ economic leverage while carving out ample protections for corporate profits.Failing to address currency misalignments that have led to large trade deficits and hemorrhaging employment in manufacturing. ![]() ![]() Failing to secure any reasonable compensation for those on the losing end of globalization.But policy failures have significantly amplified these damaging effects, turning this from a manageable challenge into a deep economic wound for these workers-and into a political disaster for the country. What this report finds: Globalization was always likely going to depress wage growth for the majority of American workers. ![]()
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