Globalization Quote by Angus Deaton
“Policies aimed at reversing globalization will lead only to a decrease in real income as goods become more expensive.”
About This Quote
Source Speech: World Bank Annual Meeting, 2015
Reversing global trade reduces competition, raising prices and lowering real incomes for consumers.
In simple terms: Closing markets makes goods cost more.
Key Takeaway
Consider the broader impact of protectionist policies.
Themes
economics
globalization
policy
Mood
cautious
analytical
Type
economic
political
When to use this quote
- government policy debates
- business strategy
- consumer budgeting
- political campaigns
Key Concepts
comparative advantage
trade tariffs
Questions to Reflect On
- What alternatives can protect workers without harming consumers?
- How do trade policies affect different income groups?
A Different Perspective
Short‑term political gains may ignore long‑term welfare losses.
