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This is just not true. Interconnection creates a far more dynamic economy. Look at any country that has tried to be economically self-sufficient. The siren of a
by bryananderson 9y ago
This is just not true. Interconnection creates a far more dynamic economy. Look at any country that has tried to be economically self-sufficient. The siren of autarky is deadly to all her victims.
- leereeves 9y agoI agree that interconnection makes the economy more dynamic. Part of that dynamism, unfortunately, is the death of local companies. Good for those who have money, but costly for those who lose their jobs.
- bryananderson 9y agoThis is a fair point. Perhaps we can have a common-sense regulation regime that protects workers and the environment without sacrificing the benefits of comparative advantage?
- jordanb 9y agoThere's a false dichotomy between hyperglobalization and complete autarky. Tariffs were common US policy when they served the interests of the elite. They only became ideologically unthinkable when they might have been used to protect the interests of the common people. Trade deals could have been written to lift up working standards and environmental protections in foreign countries and to limit the effect on the American workforce. Instead they were written to facilitate wage, labor and environmental protection regulatory arbitrage and undermine the position of the American working class.
- bryananderson 9y agoFair enough. But there is a distinction between country-agnostic labor/environmental protections and tariffs which benefit one country over another.
- vfulco 9y agoNailed it. Americans are asked to swallow lower and lower opportunities for long term work potential (and continuing education) while being expected to continue spending cause its the patriotic thing to do. Only the C-suite and elite win. But we still haven't awakened from the nightmare.