New World Fiscal Order

Masahiro Kawai, C. Eugene Steuerle

Industrialized nations will be forced to confront new problems as their populations age and as increasing globalization reduces their power to insulate their economies and policies from the effects of other countries' actions. These problems include prior spending commitments built into major entitlement programs. The United States can effectively plan for its future in an increasingly interdependent world, the authors assert, if it has the political will to begin now.

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