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by tfehring
2971 days ago
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I don't disagree, but I also don't think it's appropriate to say that globalization and free trade should be avoided just because they've harmed those communities - globalization just needs to occur alongside policy changes that offset the localized harm that it does. At its current level of globalization, the US is at a point where it stands to benefit significantly in aggregate from further globalization [0]. The problem is that the benefits of globalization disproportionately accrue to the wealthy, both in aggregate and at the US's current level of globalization [1]. IMO, the best approach is to "grow the pie" by promoting globalization and free trade and then implement distributional policies domestically to ensure that no one gets screwed over. Most advocates of globalization would likely say the same. The issue is that in practice, that increase in globalization has occurred, but domestic policy has been regressive rather than progressive in terms of its impact on wealth inequality. [0] https://www.imf.org/en/Publications/WP/Issues/2018/03/13/The..., page 23 of linked PDF [1] Same source, page 26 |
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