The Globalization Trap is based on the following three themes: Decline of the middle class. Many economists claimed that free trade and imports would lead to increasing wages and living standards. However, globalization and outsourcing caused regression to the mean (RTM), which pitted American workers against low wage workers around the world. Regression to the mean was a disaster for the American middle class, particularly workers with a high school diploma or less, it became a race to the bottom. The failure of the service economy. Many economists and academics jumped on the "post-industrial service" bandwagon and convinced themselves and most citizens that the transition to a service economy is a good and inevitable thing. These same economists also, believed that the service economy and cheap imported goods would provide economic growth, good jobs, and improved living standards for the middle class. But it just didn't happen for millions of workers.

The price of cheap imported goods was not enough to offset the stagnant wages and rising living costs of most workers. How to reclaim prosperity. The good news is that globalization is fracturing driven by the implementation of Trump's tariffs, which are dividing the globalized world into separate trading blocs. It is still possible to create an economy with wages rising faster than inflation but we need to bring manufacturing back to the US, reduce our trade deficit, and protect our industries and technologies. This book describes a plan that includes targeted industries, tariffs, tax credits, quotas, technology protection, and training.