Can the entire world really enjoy the standard of living that Americans are accustomed to?
Sure, because the entire world will have the American standard of productivity. You earn that standard of living by producing as much as Americans do. The final thesis in your new book is that we can in fact shape globalization. Do we really have the power to do that? Well, there is a whole set of things that we can do. We have to worry about these global trade surpluses and trade deficits; we have to worry about intellectual property rights, and we have to worry about education at home and abroad. We also have to get our fiscal and monetary policies right. There is no silver bullet, but there are many things that we can do to make globalization more inclusive than it would be if we just sat back and let it happen.
