Ben Bernanke, the chairman of the Federal Reserve, on Friday called on global policymakers to do more to ensure the benefits of globalisation are widely spread within their countries.
The Fed chairman said it was essential to build a “consensus for welfare-enhancing change” in order to avoid a resurgence of protectionism.
He urged governments directly to address the plight of workers whose livelihoods are threatened by changing patterns of international production and trade, for instance by helping them retrain for new jobs.
“Further progress in global economic integration should not be taken for granted,” Mr Bernanke told the Fed’s annual symposium at the mountain resort of Jackson Hole in Wyoming.
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