October 24, 2013
Free trade provides uncontrolled, unrestricted access to our economy for cheap overseas goods, tariff- and duty-free. By opening our borders through free trade, we are opening our economy to the whims of the market on a worldwide scale. Our jobs can freely leave and, allegedly, other jobs might take their place. This was once an economy that built things. Now it provides services and nothing more.
Unfortunately, the service economy is not providing the kind of economic well-being we need. Some individuals are calling for America to find a way to compete in manufacturing and technology. They are calling for these changes without recognizing that we cannot compete in these areas while pursuing strict free trade and free market policies. The government needs to provide leadership or we will be stuck in the perpetual sinkhole of a service economy.
Disastrous free trade deals and bad policies are destroying our productive capacity. These bad policies are the result of an ideology that is failing America. Economics textbooks may say that the free market is best, but the free market also has many documented shortcomings that have led to bad social and economic outcomes. We have seen these failings in action in cases such as the recent financial crisis, and the problem is only getting worse.
read more We Need Government Leadership, Not Free Market Failures | Economy In Crisis
Free trade provides uncontrolled, unrestricted access to our economy for cheap overseas goods, tariff- and duty-free. By opening our borders through free trade, we are opening our economy to the whims of the market on a worldwide scale. Our jobs can freely leave and, allegedly, other jobs might take their place. This was once an economy that built things. Now it provides services and nothing more.
Unfortunately, the service economy is not providing the kind of economic well-being we need. Some individuals are calling for America to find a way to compete in manufacturing and technology. They are calling for these changes without recognizing that we cannot compete in these areas while pursuing strict free trade and free market policies. The government needs to provide leadership or we will be stuck in the perpetual sinkhole of a service economy.
Disastrous free trade deals and bad policies are destroying our productive capacity. These bad policies are the result of an ideology that is failing America. Economics textbooks may say that the free market is best, but the free market also has many documented shortcomings that have led to bad social and economic outcomes. We have seen these failings in action in cases such as the recent financial crisis, and the problem is only getting worse.
read more We Need Government Leadership, Not Free Market Failures | Economy In Crisis
