This is the Cato Daily Podcast for Friday, April 18th, 2008.

I'm Caleb Brown.

Are there losers from globalization?

And if there are, would it be a good idea to pay them?

So that the benefits of globalization can

proceed and be realized more broadly. Don Boudreau is author of the new

Greenwood Guide Globalization. He's the chair of the Department of Economics at George Mason University

and is an adjunct scholar at the Cato Institute.

Defenders of Globalization that is expanded trade global integration makes me cringe a little bit because I feel like

when we talk about the losers from globalization and at very least in the short term

there are clear losers from globalization

it seemed to wave off a lot of those losses or the costs that are

that those people absorb.

I know what you're saying, but I think the better description is if you're going to call them losers,

losers from economic change and economic dynamism.

There's nothing unique about globalization

in its capacity to displace certain workers,

to eliminate the need for certain jobs, to reduce profits in certain industries.

Anytime consumers change their spending patterns,

the industries from which consumers take their spending will suffer, and workers in those industries will

suffer, shareholders in those firms will suffer and the firms that gain and workers

at gain are the workers and firms to whom consumers shift their spending.

...