The Wall and the Bridge
Fear and Opportunity in Disruption’s Wake
Published By: Yale University Press
Available from:
An informed argument for an economic policy based on bridges of preparation and adaptation rather than walls of protection and exclusion
Free-market economists often have noted that there are winners and losers in a competitive capitalist world. The question of how to deal with the difficult real-life consequences faced by the losers, however, has largely been ignored. Populist politicians have tried repeatedly to address the issue by creating walls—of both the physical and economic kinds—to insulate communities and keep competition at bay. While recognizing the broad emotional appeal of walls, economist Glenn Hubbard argues that because they delay needed adaptations to the ever-changing world, walls are essentially backward-looking and ultimately destined to fail. Taking Adam Smith’s logic to Youngstown, Ohio, as a case study in economic disruption, Hubbard promotes the benefits of an open economy and creating bridges to support people in turbulent times so that they remain engaged and prepared to participate in, and reap the rewards of, a new economic landscape.
Op-eds
R. Glenn Hubbard: Moving past the ‘walls’ of protection to ‘bridges’ of participation | Council on Foreign Relations, Roger W. Ferguson Jr. and R. Glenn Hubbard, February 4, 2022
Even my business-school students have doubts about capitalism | The Atlantic, R. Glenn Hubbard, January 2, 2022
The wall and the bridge | National Affairs, R. Glenn Hubbard, September 19, 2020
Podcasts and Radio
Why economic walls don’t work | Reuters’ The Exchange podcast, February 22, 2022
Glenn Hubbard: Building bridges in the wake of economic disruption | Political Economy podcast, February 8, 2022
Building walls or bridges? | Resources Radio podcast, February 1, 2022
Jerome Powell deserves a second term as Fed chair | Bloomberg Surveillance, January 25, 2022
Walls vs. bridges in a disrupted America | The Realignment, January 13, 2022
Discussing ‘The Wall and the Bridge’ | Bloomberg Wall Street Week, January 12, 2022
Building bridges to economic opportunity with Glenn Hubbard | National Affairs Podcast, January 3, 2021
Events
‘The Wall and the Bridge’: A book event with Glenn Hubbard | AEI event with Michael R. Strain and Neil Irwin, January 26, 2022
