Friedman acknowledged a term negative effect of free trade. He wrote extensively about a transitional period. He probably would be surprised how immobile labor has proved to be. He would certainly show how government is responsible for some of that immobility. Trump isn’t against free trade. He wants to level the field so the transitional period can come to an end. In the words of your hero, from her website- “Prevent countries like China from abusing global trade rules and reject trade agreements that don’t meet high standards. Hillary will strengthen American trade enforcement so we stand up to foreign countries that aren’t playing by the rules–like China is doing right now with steel—and fight for American workers. She will say no to trade deals, like the Trans-Pacific Partnership, that do not meet her high standard of raising wages, creating good-paying jobs, and enhancing our national security.” Doesn’t look like there is much of a choice on the subject.
So I guess you’re with Her too?
there is a free lunch if the rich are saving excessively at the expense of the poor’s consumption. theories work great on a macro level but when you have major saving/spending discrepancies between socio-economic groups that worsen by the day, the macro theory doesn’t really work anymore and needs to be adjusted. if a major problem with the world economy is deflation, shifting the rich’s saving to the poor who will spend will boost inflation. inflation would get businesses investing in capital and people again. corporate profits would probably fall as competition is reignited but this is good. abnormally high corporate profit margins are good for no one except the few owners of large corporations.
i laugh at the inflexibility of neoconservatives on this topic. lower and lower taxes is not always the solution for higher growth and prosperity. distribution of income and capital matters. with corporate profits at all-time highs, what other evidence do you need that something is out of whack? raising taxes will not necessary result in massive job losses when we’re currently in an abnormal state of corporate profitability anyway. corporations will not always act the same way.
Ah, so the key to growth is constantly taking from those with wealth and giving it to those without. So simple. I wonder why that hasn’t been tried by a country or two. Certainly those countries would have the most successful economies ever seen. And I never knew if the rich had less capital, they would be more likely to start a business and spend their money. Things would really take off if you conviscated all their wealth. I’m learning so much. Next you’re going to teach us how a minimum wage is free lunch. Can’t wait.
^ again with your dogma and inflexibility. how about you think instead of regurgitating 40 year old economic THEORY. everything is relative. everything is an experiment. the current experiment of ultra low tax rates is not working. North America was better when there was greater redistribution of income. it’s not about “other places”. it’s about this place. finding a happy medium between top marginal tax brackets of 50% and 90% is probably better than 50% or 90%, based on the current environment and based on the environment that existed after decades at 90%.
^Not working and creating problems. Stop with the social engineering. Tax commerce. End class warfare. I don’t think you realize how devasting government intervention has been in America. The minimum wage and transfer payments have a history of racism. Check the difference in youth black unemployment between 1950 and now. We haven’t been living in a time of Friedman economics. We’ve been trying it your way.
ummm, we live in a time of limitless and bizarrely stimulative monetary policy globally, almost no fiscal policy at all (very basic transfer payments in the U.S.) and top marginal tax rates near 8 decade lows. i’m fairly certain this is the best milton could have ever hoped for. just because there are taxes and transfers doesn’t mean this isn’t milton’s world.
^I don’t think you’ve spent much time on Milton. Doesn’t fit your narative, so you tune it out. Check out the decline of the black family and compare it to the growth of the welfare state. Thomas Sowell has written extensively on the subject if you want to open your eyes.