Tuesday, July 20, 2004

Good News

There is always a lot of "stuff" flying about re "globalization" and kindred topics.
In contrast, a recent issue of the Journal of Economic Literature includes several articles that summarize what we know.  Most of the news is much more positive than the gloom that we get from the left -- e.g., mainstream media, elites, etc.
Copeland and Taylor ("Trade Growth and the Environment") conclude that, "... there is a great deal of evidence supporting the view that rising incomes affect the environment in a positive way."  Winters, McCulloch and McKay ("Trade Liberalization and Poverty") conclude that , "... trade reform may be one of the most cost-effective policies available to governments."
Two of the world's biggest problems are subject to the invisible hand.  I always had a feeling that the guys who dress up as sea turtles had it all wrong.