Hail to the NYT for staying with rationality, instead of populism.
Trade has been getting an unfair beating from Democrats. Party leaders backpedaled from their agreement with the White House to approve free trade pacts with Peru and Panama and are opposing the agreement with South Korea. They also refused to extend so-called fast track authority, which guarantees a simple up or down vote on trade deals. And Senators Hillary Clinton and Barack Obama — playing to the campaign crowds — are backing legislation that would punish China for manipulating its currency and, not incidentally, could trigger an ugly trade war.
Yet for all their concern about globalization’s impact on American workers, Democrats are going after the wrong targets. It is true that wages for most workers are going nowhere. Many fear for their jobs. But, as many centrist Democrats have argued for years, throttling trade would end up hurting a lot more people than it helped. [The Case for Trade. NYT. July 27 2007]
I however am not quite certain what is implied with this statement:
Research suggests that trade inspires less protectionist feelings in countries with bigger governments and bigger social safety nets. Promoting trade and helping America’s workers are two ideas that Democrats should get behind. [The Case for Trade. NYT. July 27 2007]
One reply on “[1302] Of hail trade! Hail the NYT!”
I’m inclined to think that they’re just pushing this idea Tom Friedman has been pushing (which I personally am partial to) that governments should provide or fund retraining and other social safety net measures to offset the temporary costs of trade.