The worldwide trend towards privatization, liberalization and globalization has produced substantial economic benefits. Nevertheless, liberalization has had its shortcomings and there are potential threats to further progress, including in particular an antiliberalization backlash. Continuing progress depends on the ability to articulate a clear vision of the positive effects of global liberalization and to establish institutions and policies which can help realize that vision. Reversing globalization would harm the worlds poorest inhabitants.
Charles W. Calomiris is the Arthur F. Burns Scholar in Economics at AEI.
The promise of "healthy aging" offers significant opportunities for economic growth and development for Europe in the decades ahead--if governments and citizens are willing to grasp them.
