Global Economic Integration: What's New and What's Not?

U.S. Fed Chairman Ben Bernanke gave a speech in Wyoming yesterday on globalization. It’s a good piece that provides some historical context, draws contrasts between the stunning pace of change now from economic and social interpenetration of the past, and concludes that, while we need to be sure the gains of globalization are spread around, the potential benefits of a smaller, more integrated world are significant.