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June 28, 2007

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Tim Worstall

"It doesn't argue that globalization has made the middle class better off,"

Which middle class? It's created the Indian and Chinse ones...and as any good liberal would argue, we're all human and thus all equally worthy of being counted.

spiral-diving

what would happen if the polarization of income growth continues while the govt doesnt change the tax system & keeps running the hugh budget deficit?

Dave Meleney

Why is it fashionable for liberal academics to worry so much more about middle class Americans, than about the emergent middle classes abroad, many of whom have yet to get their first refrigerator or car?

And to even worry more about the "middle class stress" of someone who can get a darn decent used car for a months's wages, as opposed to people who have yet to be invited to the world's cornucopia at all?

Why not, then, also worry for poor Paris Hilton?

paine

clive cooks mockery
is obscene

when is the jury likely to render its verdict ???

my guess when its too late
for tnc border crossers
and
the us industrial base (USIB)

this is a case of
if you brake IT
( THE USIB)
you don't own it

we jobbled slobs
have to make a go
of it
on our own

live among
the ruins ????

Michael Sullivan

This criticism makes no sense. Almost any economic change creates losers, even when it enriches the country as a whole.

I have a bunch of relatives in the auto industry in Michigan, and trust me, trade with China isn't making any of them richer. My father-in-law's tool and die business went bankrupt largely because so much of that work is now being done cheaper in china and mexico.

But when looking at the country as a whole that same trade has a significant (beneficial) effect on prices and productivity.

And certainly, the kind of trade barriers that would be required to eliminate the competition my family facese would have a *huge* negative effect on most of the country.

But programs to lift the safety net a bit, or help those who can least afford to insure themselves against job loss might make a dent in the massive resentment building up in certain sectors of the economy against globalization.

One might not agree, or think those people worthy of assistance, but pretending they can't exist is completely unreasonable.

spiral-diving

if a country has gained as a whole from trade liberalization, you should be thinking how to redistribute the gain. imposing trade tarriffs or other NTBs is in violation of wto principle - reciprocity. you cant take all sectors to your side.

mik

"Why is it fashionable for liberal academics to worry so much more about middle class Americans, than about the emergent middle classes abroad"

Because most of them are Americans? Even if severely confused?

You, as a Citizen of The World - a very precious individual, will not understand.


"But when looking at the country as a whole that same trade has a significant (beneficial) effect on prices and productivity."

If us, stupid Joe-Pay-Check, don't feel it, one day we realize that we still have Democratic Republic.

We, middle class, will vote our pocketbook, "country as a whole" can vote as she pleases.

You can pee on my my leg ant tell me it is raining. It works only so long.

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Moncler

The web of losses that you describe in NC are offset by a web of gains in Boston. Restrict trade, and I pay more for my socks, do not eat dinner in Boston, and the web of losses you described in NC happens in Boston

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