The University of Massachusetts Amherst
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UMass Economics

Nancy Folbre comments in story about possible effects of Greek default and exit from the Eurozone on global economy

Regarding job losses from globalization and previous free trade agreements, Folbre says, “Trade theory emphasizes that those who benefit from free trade should be able to compensate those who suffer, making everyone better off. What trade theory doesn’t explain is why the beneficiaries would offer such compensation unless they are forced to do so.” (Observer.com, 6/24/15)