The strikingly different labor market performance of major industrial countries suggests that neither globalization nor skill-biased technological change necessarily result in rising unemployment or declining wages of low-skilled workers. Rather, globalization and technological change cause...

An Englishman once watched his first American football game. He looked intently as the team gathered into a huddle after each play. His American host asked him what he thought of the proceedings. "Not a bad sport", remarked the visitor, "but they do seem to engage in an excessive number of...