The "rust belt" has suffered a great deal due to globalization, tech innovation, bad public policy in the "rust belt" and bad public policy in Washington DC. Workers and cities have suffered too much. It is time to save the "rust belt!" Research and experience based, with a hint of sarcasm and occasional anger.
Sunday, June 26, 2016
Brexit, Trade Policy and Jobs
The chattering classes are all atwitter about the Brexit vote and the potential damage to globalization.
To date globalization has been good for:
1) rich people
2) bureaucrats
3) workers in developing countries
To date globalization has been bad for:
1) existing middle classes (U.S. and Britain for example)
2) blue collar workers in developed countries
The elites (politicians, economists, really rich people) are still determined to create the new world order, but are now even admitting, timidly, that maybe there are some victims.
Which is why we are faced with Brexit and Donald Trump.
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