Now that I’ve returned home from two weeks in the north woods and lakes of northern Wisconsin, where internet access is unavailable without a long trip into town and a re-engagement with a small version of the daily rat race (which I avoid at practically all cost), I’m slowly getting caught up again.
A little while back, reader Ken brought to my attention the above-linked article which reports on how more economists are arriving at the conclusion that free trade (especially with China) is, in fact, hurting American workers. Seems blatantly obvious, but this is a leap for economists who, for decades, have closed their eyes and repeated their mantra that free trade benefits all, in ways that are very tangible for those with trade surpluses and in ways mysterious, intangible and completely indiscernable for Americans.
The author of the article still manages to conclude that protectionism is not a proper response, but at least it seems that some economists are starting to wonder.
You might also enjoy my response and couple of responses to it. (Scroll down throught the comments.)
Thanks for sending this, Ken.