In a recent analysis, Scott Lincicome critiques Oren Cass's anti-globalization stance, arguing that Cass's claims about the negative impacts of globalization on the U.S. economy and communities are misrepresented. Cass has positioned globalization as a detrimental force, asserting that it has led to job losses and community devastation. However, Lincicome counters these assertions with data illustrating the benefits of globalization, highlighting that U.S. manufacturing output reached $2.7 trillion in 2022, and median American wages have seen an increase since the 1990s. [edf3ecfa]
Lincicome's analysis is part of a broader initiative by the Cato Institute, which launched the Defending Globalization project in September 2023. This project aims to provide resources such as videos, essays, and public opinion polling to support the case for globalization. Lincicome points to thriving cities like Laredo, Texas, which have benefited from the North American Free Trade Agreement (NAFTA), as evidence against Cass's claims. [edf3ecfa]
The critique extends to the complexity of modern supply chains and the interdependence of imports and exports, emphasizing that protectionist policies could ultimately harm the economy. Lincicome describes Cass's arguments as demagoguery, lacking empirical support, and stresses the importance of foreign direct investment in U.S. manufacturing. He concludes that while economic adjustments are necessary, a retreat from globalization would be detrimental to overall economic growth. [edf3ecfa]