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Tuesday, December 17, 2024

Abandoning globalization is a sure path to immiseration (shared)

Do we blame trade — or the fact that the United States addresses disruption very poorly?

Americans are done with globalization. For the third time in a row, in November voters chose a president who promised to rein in the thing. Indeed, in the past two elections there wasn’t a pro-globalization candidate on the ballot. The proposition that guided U.S. policy since World War II — that weaving the world together via trade and investment provides a path to peace and prosperity — has been jettisoned and replaced with the thought that corporate America somehow duped us all into believing that hogwash.

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