The same is true of technological advances, yet we don’t turn our backs on them. All new sources of productivity challenge existing ones. - ThreadSky

prchovanec.bsky.social • 80 days ago

The same is true of technological advances, yet we don’t turn our backs on them. All new sources of productivity challenge existing ones.

Reposted from Carl Quintanilla

YELLEN: ".. We've become much more aware that trade may not lift all boats. It may lift some and actually lower others."

@wsj.com
www.wsj.com/economy/jane...

Comments

prchovanec.bsky.social•80 days ago

Way too many people are willing to go along with the anti-trade zeitgeist, for fear of being seen as out-of-step, instead of emphasizing the real costs of walking away from trade.

prchovanec.bsky.social•80 days ago

I’ve often been surprised - perhaps naively so - at the receptiveness of many Democrats in office to Trump’s arguments on trade.

prchovanec.bsky.social•80 days ago

But to be fair, Trump’s arguments against trade are basically Dick Gephardt’s presidential platform in the 1988 Democratic primaries.

simonlester.com•80 days ago

The trade policy debate has gotten so muddled, but focusing on just national politicians, I suspect that Republicans are still more pro-trade than Democrats on average (almost certainly in the Senate; I'm less sure about the House).

ehutchcraft.bsky.social•80 days ago

Yeah, the parties have somewhat reversed on this. But I think that is because both were somewhat right on it. Global trade has undoubtedly been good, but Democrat worries about what NAFTA would do to manufacturing in the US as well as those types of jobs were not all wrong either.

justodude.bsky.social•79 days ago

I would argue we need a minimum wage requirement for employees with all our trade partners that employees are paid at least the federal minimum wage. That would even the labor playing field without shifting the tax burden on consumers