Robert J. Samuelson: Americans are making a muddle of foreign trade

Return To Article
Add a comment
  • southmtnman Provo, UT
    April 3, 2013 6:05 a.m.

    Kayser makes an important point.

    On another point, the article states "Although imports worsen the secular loss of manufacturing jobs..."

    As opposed to the religious loss of manufacturing jobs? What does that even mean?

  • Roland Kayser Cottonwood Heights, UT
    April 2, 2013 8:25 a.m.

    Free trade theory also suggests that the gains to the economy will be enough so that we can compensate the inevitable losers from trade in the form of job retraining. It also assumes that increases in national wealth due to trade will be shared somewhat equally throughout the country. This has obviously not happened in our case. The working class has gotten absolutely hammered in this country while all of the benefits have flowed to the tiny minority of people at the top.

    President Eisenhower once gave a speech in which he said that the reason the U.S. economy was the most successful in the world was because average workers received a fair share of the profits. They did so because the owners of the nation's capital stock recognized that paying workers well was in their own interest.

    This lesson has been forgotten by our current elite.