Thanks to Mike Folkerth for sending me the above link to a video of an interview of Alan Tonelson, author of Race to the Bottom. Mr. Tonelson makes the point that no economic recovery in the U.S. will be possible until we make major changes in trade policy, implementing tariffs to massively shift from offshore production to domestic production of the products that we consume. Mr. Tonelson says that doubling exports will do nothing to help the economy – that what’s really needed is a boost of net exports, which means reducing the trade deficit. I couldn’t agree with him more. It’s a great interview. Enjoy!
(Thanks again, Mike!)