The articles discussed here take as given the existence of a global economy, and try to address the various aspects of it, especially where it may adversely affect the domestic (and especially the U.S.) economies.

1. Global flow of capital during economic uncertainty:

A global market economy may lead to a global exit of capital from a given market when it suffers economic setbacks. Solution (Sachs, Altman): make the exit more rational and buffer it with a third party bank, e.g. the IMF.

2. Income inequality as a result of global trade.

The growth of income for the skilled workers in both developed and developing countries, and drop in income for all unskilled workers.

Is the drop in unskilled Americans' income exaggerated? (Rodrik)

Global trade does not necessarily contribute to exit of American jobs: the low-pay countries also usually have low productivity. (Rodrik)

Global trade has contributed to a real wage loss for many Americans. (Thurow)

3. The blurring of the nation of origin of corporations.

Corporations are more likely than ever before to "divide up the value chain of production" due to reduction in transportation and communications costs. (Sachs, Thurow)

4. The weakening of national governments in an age of global economy.

The weakening of control of national governments has led to greater movements for local autonomy. (Sachs)

5. The weakening of the social safety network.

Employers are more likely to shift jobs overseas than providing benefits to their domestic workers, and governments are less likely to sustain their welfare level because of loss of tax base.

Putting social security in the context of global trade. (Thurow)

6. The growing strength of the Euro and impact on U.S. economy. (Thurow)