June 27, 2015

THE ONLY ECONOMIC/POLITICAL QUESTION THAT MATTERS:

The Trade Battle Is A Symptom Of Larger Differences (IRWIN M. STELZER, 6/27/15, Weekly Standard)

In effect, the coming battle over TPP is a subset of the battle over the reasonableness of this country's income distribution system. Conservatives and liberals battling over trade issues are passing like ships in the night. Conservatives tend to argue that freer trade will stimulate economic growth by opening new markets and forcing domestic producers to become more efficient. Liberals are concerned less, if at all, with aggregate growth rates than with the distribution of the fruits of growth. To them, freer trade means more profits for multinational corporations and fewer and less well-paid jobs for workers.

That's it in a nutshell : would you rather artificially protect inefficient jobs as the means of redistributing less wealth or generate more wealth through greater efficiencies and then figure out an alternative means of redistributing it? 

There's not a neat left/right divide though.  Many on the right are so repulsed by the thought of the unwashed masses having leisure time instead of "working" that they too prefer makework jobs to profits.



Posted by at June 27, 2015 7:36 AM
  

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