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The value doesn't need to be captured because it isn't lost. The value is simply distributed across the entire economy by lower costs. There is room for polic
by gwright 10y ago
The value doesn't need to be captured because it isn't lost. The value is simply distributed across the entire economy by lower costs.
There is room for policies that support workers displaced by economic change (i.e. unemployment insurance) but free trade helps to maintain a vibrant, adaptive, and productive economy (i.e. to create wealth).
Highly regulated trade is riddled with preferential treatment for politically connected firms or industries. This is a great way for politicians and bureacrats to wield power, exchange favors, and generally funnel value away from consumers and towards the favored firms and industries.