Others view globalization as a threat to American jobs, workers, and consumers, not to mention the health and well-being of foreign workers who may be exploited, harassed, and underpaid. This book cuts through all the political rhetoric, erroneous assumptions, and myths about globalization to explain, in an even-handed and uncomplicated manner what it is, how it works, why it has developed, and who it helps and harms. A history of the phenomenon places the current debates in context and helps illustrate the basic mechanisms of global trade in goods, services, and labor. The potential benefits along with the possible drawbacks are presented, and the narrative remains neutral on globalization's ethical or social value. Instead, it simply explains how globalization works on the theoretical level and in actual, observable, real-world ways. Includes helpful sidebars such as "Myths and Facts about Globalization" and "Ten Great Questions about Globalization to Ask an Economist."