Protectionism hurts the poor!
A great argument against protectionism is contained in the last
paragraph of this insightful article by Michael Cox and Richard Aim
from the Federal Reserve Bank of Dallas: ‘You Are What You Spend’, New
York Times, Feb 10 2008, p.14.
The article also establishes that consumption levels are a much better
measure of relative economic wellbeing and poverty than income
comparisons.
And it points out that global trade benefits all consumers by making
goods cheaper and more accessible, particularly impacting those with
lower income levels.
Sent from my iPhone – pardon typos
.
related posts
-
Romney Buchanan
The fact that Mit Romney’s advisors include Pat Buchanan’s sister is plain scary. Sent from my iPhone – pardon typos .
-
Quote of the week: from Shimon Peres at Davos
Dissatisfaction is the source of creativity – Shimon Peres, at Davos Shabbat dinner, giving one of his best speeches, from Israel’s history and 60th Anniversary, to humanity and Judaism, all impromptu Sent from my iPhone – pardon typos .
-
Rabin’s Legacy
A friend today wondered aloud if Rabin even left a legacy. I agreed it remains to be seen – & pointed out it is up to us, the people, to ensure one. Sent from my iPhone – pardon typos .
-
Hilary Clinton shows substance, McCain shows principle, Obama hope
Tough to decide which candidate will do a better job for the US, and the stakes are higher than ever. At issue are global environmental, socio-political and economic challenges as big as we’ve ever seen. In that context, Hilary’s experience, judgement and strength of character are important. Then McCain shows something I admire a lot: [...]
-
The Century of the Global Citizen
Some time this century, more people than not will share a multi- cultural or multi-national identity. Either they or one or both of their parents or grandparents will have been born in a different country from where they reside, and will share cultural, national, ethnic and/or religious affinities with more than one group. This fact [...]
post a new comment