Thirteen former Democratic governors urged Congress to approve fast-track trade authority to facilitate the passage of the Trans-Pacific Partnership (TPP) and the Trans-Atlantic Trade and Investment Pact (TTIP). The most newsworthy aspect of the letter is that the governors apparently do not understand the basic economics of trade.
Search Results for: Dean Baker
The question here is pretty simple, in spite of Robert Samuelson’s efforts to sow confusion. There is very little plausible benefit from raising interest rates and slowing the economy at a point where the economy is far below its potential by almost any measure.
Most of us recognize that politicians don’t always reveal their true thoughts. We know what they say their priorities are, but only a mind-reader would try to tell us what they really think.
An over-valued dollar hurts the workers who are subject to international competition to the benefit of workers who are largely protected from international competition.
Robert Samuelson says if we had kept up the rates of productivity growth we had until 1973, it would have mattered much more to middle-income families’ living standards than the rise in inequality since 1980. This is true in the sense of “if I were six feet five inches, I would be taller than I am,” but it’s not clear what we should make of the point.
A front-page lead New York Times story is mainly valuable for the insight it provides into what the Times considers to be a healthy economy–and who that economy is supposed to benefit.