"We should concentrate on designing programs complementary to trade agreements, such as the TAA, especially as we now know some of the distributive effects of free trade don’t dissipate easily as previously thought.
Ignoring Heckscher and Ohlin’s prescient wisdom has cost many people their livelihoods. The best path for society is to increase trade agreements but only if accompanied by fail-safes for the segments of society most likely to be adversely affected.
Policymakers and researchers forgot this for too long and we are now facing the backlash."
It's not about turning our back to globalization just because some industries are injured. As citizens we should demand our governments to acknowledge and act proactively with regard to the natural adjusments of trade liberalization.
We must not overlook how the post ends though:
"We should concentrate on designing programs complementary to trade agreements, such as the TAA, especially as we now know some of the distributive effects of free trade don’t dissipate easily as previously thought.
Ignoring Heckscher and Ohlin’s prescient wisdom has cost many people their livelihoods. The best path for society is to increase trade agreements but only if accompanied by fail-safes for the segments of society most likely to be adversely affected.
Policymakers and researchers forgot this for too long and we are now facing the backlash."
It's not about turning our back to globalization just because some industries are injured. As citizens we should demand our governments to acknowledge and act proactively with regard to the natural adjusments of trade liberalization.
Thank you for sharing.
These two Swedish economists foresaw a globalization backlash. In the 1930s
Thats some solid forecasting :)
Thanks a lot for always sharing good information to the steemit community
Another nice post.. thanks
Very nice link.. thank for sharing your blog