Are We Underestimating the Gains from Globalization for the United States?
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Author | : Christian M. Broda |
Publisher | : |
Total Pages | : 0 |
Release | : 2014 |
ISBN-10 | : OCLC:1375331364 |
ISBN-13 | : |
Rating | : 4/5 (64 Downloads) |
Book Synopsis Are We Underestimating the Gains from Globalization for the United States? by : Christian M. Broda
Book excerpt: Over the last three decades, trade has more than tripled the variety of international goods available to U.S. consumers. Although an increased choice of goods clearly enhances consumer well-being, standard national measures of welfare and prices do not assign a value to variety growth. This analysis - the first effort to measure such gains - finds that the value to consumers of global variety growth in the 1972-2001 period was roughly $260 billion.