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How Americans Got Left Behind in the Global Economy: A Council on Foreign Relations Report

Randy Hayes

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Published in Failure To Adjust: How Americans Got Left Behind In The Global Economy (A Council On Foreign Relations Book)

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In a new report, the Council on Foreign Relations (CFR) examines the factors that have contributed to the decline of the American middle class and the rise of inequality.

Failure to Adjust: How Americans Got Left Behind in the Global Economy (A Council on Foreign Relations Book)

4.7 out of 5

Language	:	English
File size	:	1367 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	268 pages

The report finds that a number of factors have contributed to this trend, including:

Globalization: The increased flow of goods, services, and capital across borders has led to increased competition for American workers, particularly in manufacturing.
Technology: The automation of tasks has also led to job losses in manufacturing and other sectors.
Trade: The United States' trade deficit has contributed to job losses in manufacturing and other sectors.
Education: The United States has fallen behind other countries in terms of educational attainment, which has made it difficult for American workers to compete in the global economy.
Government policies: Government policies, such as tax cuts for the wealthy and deregulation of the financial industry, have contributed to the rise of inequality.

The report concludes that the United States needs to make a number of changes in order to address these challenges. These changes include:

Investing in education: The United States needs to invest in education to ensure that American workers have the skills they need to compete in the global economy.
Reforming trade: The United States needs to reform its trade policies to ensure that they benefit all Americans, not just the wealthy.
Investing in infrastructure: The United States needs to invest in infrastructure to create jobs and boost the economy.
Addressing inequality: The United States needs to address inequality by raising the minimum wage, expanding access to affordable housing, and providing tax breaks for low- and middle-income families.

The report concludes that the United States can only address these challenges by working together. By investing in education, reforming trade, investing in infrastructure, and addressing inequality, the United States can create a more prosperous and equitable future for all Americans.

Failure to Adjust: How Americans Got Left Behind in the Global Economy (A Council on Foreign Relations Book)

4.7 out of 5