Controversies in Macroeconomics: Growth, Trade and Policy presents debates from the world's leading researchers on some of the most important issues in economics today. Accessible to the general economics reader, this book is ideal for advanced undergraduates and graduates in intermediate macroeconomics, macroeconomic theory, development economics, growth theory and trade theory. The controversies incorporate an open-forum approach that does not require new results or data sets. Each is introduced by a well-known economist, who links together the ensuing arguments and outlines the main ideas within each one. Issues are discussed within the contexts of policy as well as theoretical and empirical work.The controversies debate the big questions: Do growth rates converge? Does trade liberalization foster economic growth? Do trade agreements help or hinder growth? Does financial liberalization stimulate economic development? Does economic growth make us happier? Is the welfare state bad for growth?