Amid a growing backlash against international economic interdependence, Clausing makes a strong case in favor of foreign trade in goods and services, the cross-border movement of capital, and immigration. This valuable book amounts to a primer on globalization, explaining without jargon both its benefits and its costs. The former, in her view, greatly outweigh the latter, but she also offers constructive proposals to reduce globalization’s downsides. Clausing’s field of expertise is tax avoidance and evasion by multinational corporations, which employ hordes of well-paid lawyers to take advantage of loopholes in national tax laws and swarms of lobbyists to help create and maintain those loopholes. Clausing argues that the tax reform passed by the U.S. Congress in 2017 contains many moves in the wrong direction.
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