Thursday, July 7, 2016


Marc Thoma:
Globalization and international trade were supposed to make us all better off. There would be adjustment costs along the way ... but in the long-run more trade would lift all boats. But that hasn’t happened.

The creation of the EU was a political solution to economic problems. It was sold to the voters as a solution to economic problems. It would make the economy better, the voters were told.

It didn't make things better. It didn't address the fundamental economic problems. It only opened a door to the increased consolidation and concentration of wealth.

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