Eric Werker
Eric Werker is an Assistant Professor in the Business, Government, and the International Economy Unit at Harvard Business School.
Recently by Eric Werker
Mar 4 2009, 7:03AM
How globalization's losers win
The modern economy is built not only on hard work and technological progress, but on itself. Unfortunately, the economy's amazing ability to create a lot from a little goes alongside a terrifying capacity to self-destruct from the smallest catalyst. These capacities can be illustrated by the three different "multipliers" in economics. And thinking about these multipliers is the key to understanding a paradox of the current recession: some of the countries that are least developed are having the least difficult time weathering the crisis.
Copyright © 2009 by The Atlantic Monthly Group. All rights reserved.