The Governance of Globalization: National and International Dimensions

Abstract

This chapter proposes key institutional reforms at the national level in the United States and at the international level that would foster further gains from globalization and a more equal distribution of its benefits. At the national level, a renewed social compact is proposed to promote full employment, based in part on European models of business-labor cooperation, and to deal with issues of income distribution and worker adjustment to structural change in the economy. At the international level, the chapter considers certain changes in the activities and operations of the International Monetary Fund, the World Trade Organization and the International Organization for Migration that would allow these organizations to exercise more effective surveillance of the financial, trade and immigration policies of their membership.