11 ms·
Economist Dean Baker has been making this point, and its an important one. While most in the upper class seem to be adamant that people in, say, manufacturing m
by Chathamization 10y ago
Economist Dean Baker has been making this point, and its an important one. While most in the upper class seem to be adamant that people in, say, manufacturing must compete with low cost foreign workers (free trade is good, protectionism is bad), they are more than happy to continue the protectionism that more educated workers (people like them) enjoy.
There are a lot of people that are fine with protectionism, but think it should only apply to the people like them. They think that those lower down on the ladder need to find new professions, even if they're in their 50's.
Dean Baker:
> Unfortunately, almost none of the people who pronounce themselves devotees of free trade actually do consistently advocate free trade policies. Rather they push selective protectionist policies, that have the effect of redistributing income to people like them, and call them "free trade."
...
> In the United States, the "free traders" in most cases also support the protectionist restrictions which severely limit the ability of foreign trained doctors and dentists and other high-end professionals from working in the United States. As a result of these protectionist measures doctors in the United States earn twice as much as their counterparts in other wealthy countries, costing us around $100 billion a year in higher health care costs.
http://cepr.net/blogs/beat-the-press/the-free-traders-do-not-believe-in-free-trade-46-765 http://cepr.net/blogs/beat-the-press/the-free-traders-do-not...
- denzil_correa 10y ago> While most in the upper class seem to be adamant that people in, say, manufacturing must compete with low cost foreign workers (free trade is good, protectionism is bad), they are more than happy to continue the protectionism that more educated workers (people like them) enjoy. Everyone wants regulation for "others", free market for themselves.