Thursday, April 20, 2017

Art of the Steal

Worth a read: The Art of the (Trade) Deal, according to the Trump administration

A nice exploration of the practical effects of TrumpTrade. The concluding paragraph:
In sum, the art of the trade deal according to the Trump administration teaches us that Americans win when the dollars in our pockets buy less in global markets; when we pay higher prices for the goods and services we use every day; when U.S. producers face higher costs of production than their foreign competitors; and when the taxes we pay buy less infrastructure and national defense.
The author neglected to add to the summary, “…when there are fewer American jobs; and when regulatory capture, financed by political contributions, becomes a standard method of excluding small competitors from markets."

No comments: