Author Ian Fletcher explains why free trade doesn't work and talks about his book with the same title. This talk was given at the Heritage Foundation in Washington on July 16, 2010.
@dhsescol It isn't clear, you're correct... at least in an economic sense, but in a political sense it's abundantly clear why such a situation would be absurd. I'm not sure what you mean by "Americans allowed to be free" either, maybe you could expound on that. Our market is quite free, it's the other markets that are obstructionists to free trade, and I'm not wholly convinced that ourselves being a beacon of free trade will inspire them to join us. Again, politically speaking.
From 2000 to 2010 the U.S. lost over $6.1 trillion dollars in trade deficits and over 50,000 factories shut down or off-shored which included the loss of over 6 million manufacturing jobs.
In this decade America must move away from mindless liberal free trade and towards more pragmatic and recipricol trade policies.
It would also be very wise for American to implement a national industrial policy.
America cannot afford another decade like the last one.
Amazing that 80 people have seen this - it touches on the sanity of a system of trade that has worked for hundreds of years and the insanity of the corporate freedom we got in exchange . If a country can not protect itself and care for its own citizens then it will make a worse mess on a world scale. A new system with a balanced economy has to be invented, and has to benefit all nations otherwise it wont work . will ti ever be made ?
Fletcher complains about Ricardo's false underlying assumptions, yet his his rationale for managed trade is also based on false underlying assumptions; that if Americans were allowed to be free, then foreigners would take advantage of them.
It's not clear why Americans elites should tell us what to do rather than foreign ones. We can't even assume that foreigners restricting our freedoms would be any worse than our elites doing so.
@dhsescol It isn't clear, you're correct... at least in an economic sense, but in a political sense it's abundantly clear why such a situation would be absurd. I'm not sure what you mean by "Americans allowed to be free" either, maybe you could expound on that. Our market is quite free, it's the other markets that are obstructionists to free trade, and I'm not wholly convinced that ourselves being a beacon of free trade will inspire them to join us. Again, politically speaking.
xxcrysad3000xx 5 months ago
From 2000 to 2010 the U.S. lost over $6.1 trillion dollars in trade deficits and over 50,000 factories shut down or off-shored which included the loss of over 6 million manufacturing jobs.
In this decade America must move away from mindless liberal free trade and towards more pragmatic and recipricol trade policies.
It would also be very wise for American to implement a national industrial policy.
America cannot afford another decade like the last one.
nac1y2k 8 months ago
Amazing that 80 people have seen this - it touches on the sanity of a system of trade that has worked for hundreds of years and the insanity of the corporate freedom we got in exchange . If a country can not protect itself and care for its own citizens then it will make a worse mess on a world scale. A new system with a balanced economy has to be invented, and has to benefit all nations otherwise it wont work . will ti ever be made ?
prebenso 11 months ago
Fletcher complains about Ricardo's false underlying assumptions, yet his his rationale for managed trade is also based on false underlying assumptions; that if Americans were allowed to be free, then foreigners would take advantage of them.
It's not clear why Americans elites should tell us what to do rather than foreign ones. We can't even assume that foreigners restricting our freedoms would be any worse than our elites doing so.
dhsescol 1 year ago