4 ms·
I've believed for a long time that unrestricted international trade, and having well-paying jobs for people with minimal education, are fundamentally incompatib
by csense 12y ago
I've believed for a long time that unrestricted international trade, and having well-paying jobs for people with minimal education, are fundamentally incompatible -- it's an either-or choice. There are simply too many poor people overseas that are willing to take lower wages and out-compete domestic workers.
It's nice to see someone with economic credentials who agrees with me. Which end of the either-or proposition should we take? That depends largely on your politics.
I think global free trade would be a nice thing in the happy imaginary world where having a seat in the UN means your country always puts the interests of the whole of humanity above your own. But the simple and obvious reality is that most countries look out for themselves first, and so if we make policies and choices based on our happy imaginary world instead of the darker (or at least greyer) real world where we actually live, we're going to be quite sorry about some of those choices sooner or later.