Globalization: Threat or Opportunity for the U.S. economy?

This article argues mostly how globalization appears to hurt the US economy but really helps to boost it. He names the advantages of outsourcing and some policies that can help protect US workers. The author also gives many factual and statistical examples to illustrate what is being written.

The article was published in 2004 but is adapted from remarks given by the author at a convention of investment professionals. Robert T. Parry was president and chief executive officer of the Federal Reserve Bank of San Francisco and he served on the Federal Open Market Committee of the Federal Reserve System, the governmental body that sets monetary policy and interest rates. His prior experience makes his opinion a valid one because of his experiences.

Tools:

1. Personification. This makes one identify with the idea that the author is trying to express by giving it human qualities the person can relate to. The author uses the term "health" to speak of the state of the economy.

2.Tone. The over all tone is that of confidence and knowledge causing the reader to trust what they read and allows them to understand and identify with the content. Throughout the article the tone is very professional without being drastic nor too relaxed. Appeals to ethos.

3. Examples. The author gives many, many statistics supporting his argument and appealing to logos. He states that the US bought $77 billion worth of services from foreigners but sold $130 billion to foreigners; a number which is far greater.

4. Goodwill. The author appeals to logos by showing that his concern is not only for the US by stating that economic activity flows in both directions as a result of globalization and free market strategies when applied correctly and appropriately.

5. Trustworthiness. The author appeals to ethos again by acknowledging that some policies aren't as effective as desired but he feels the concepts they are based on are right on. He states that this is his opinion and leaves it open for others to come to their own conclusion rather than just telling us it is the best way there is.

6. Metaphor. In order to allow the reader to better understand the complex nature of economics and international trade he likens it to a family and how they live and perform the necessary functions to survive. This allows greater clarity and understanding on the part of the reader making it easier for them to identify and agree with the writer.