Why Free Trade is good.

The Concise Encyclopedia of Economics ^ | Alan S. Blinder

[annyokie]

I know you are not. I read these folk all the time.

[jpsb]

"the protective system [] is conservative" .... Well there we have it. Marx recognizes that a tariff system is conservative and therefore he is against it.

"free trade system is destructive ".....Well, that do you know Marx see the free trade system as destructive but what does free trade destroy? Marx tells us in the next sentence

"It breaks up old nationalities" ..... Oh no Mr Bill, you mean a free trade system will destroy the good old USA? Yup, that's how Marx sees it, and he is correct as current developments (WTO, NAFTA, GATT) show. But it gets worse.

[it, free trade] "pushes the antagonism of the proletariat and the bourgeoisie to the extreme point." ..... What this means free traders is that the free trade system chases the lowest cost labor and reduces to the lowest point, subsistence, all labor. That would be you, me and our children if we continue our insane trade policies. But it gets worse.

"In a word, the free trade system hastens the social revolution "..... Hmmm, this doesn't sound good. What this means is that once free trade has reduced labor costs to the subsistence level, well the workers will just say screw it kill the elites and demand a Marxists economy.

"I vote in favor of free trade" ..... Well what do you know, Karl Marx is a free trader! who da thunk it.

[jpsb]

But they worry about what happens if another country—say, Japan—can make everything, or almost everything, cheaper than we can.

So in each industry that we compete with cheap labor our wages are forced down huh? So what industries do not compete with cheap labor

Both of the above look like questions to me.

[CWOJackson]

Yes, they are pretty easy to read aren't they.

[Spruce]

I'll make new things they have not dreamed of.

[jpsb]

still waiting

[jpsb]

Yea, that will be cool. We will just invent a money machine, and ever American will have one. I can't wait.

[CWOJackson]

And you do it so well.

[jpsb]

Yup once has to be willing to wait until the end of time if one has any hope of reading an intelligent post from you. Happily I am a very patent man.

[CWOJackson]

I'm sure you're happy. It shows in your doom and gloom approach to life and politics. Some folks like that sort of thing...but I'll let you get back to sitting on your eggs again.

[Spruce]

I have had to transform my skillset numerous times. Your soul and the grace of God IS a money machine, if that's what you want.

[hobson]

What is the new market these visionaries percieve?

We are a country of innovators. You might think about joining them by coming up with your own ideas. Just a thought.

[neutrino]

No doubt the leadership of China and India are delighted with this mindset. The children and grandchildren of Americans will pay a bitter price for our insatiable appetite for cheap junk from WalMart.

[Libertarianize the GOP]

bump

[LowCountryJoe]

There you go again Willie...nice job Ignoring everything in the article that began this thread. Tell me Willie, is it xenophobia with you? I know that you're Christian, do you not glean anything from Matthew 15:21-15:28?

And as for the ridiculous quote you and others constantly 'trotsky' out there, have you actually read the entire speech that he gave? Go on...read it, because I know that you haven't yet! The guy was all over the place on these issues. It was almost like listening to John Kerry on the Iraq War.

[Sinner6]

It is called comparative advantage. See the analogy of the lawyer and the secretary. This is different then absolute advatage.

[Sinner6]

But if you had ever bothered to read the Communist Manafisto you would relize how bad Marx's reasoning a logic skill are.

[dennisw]

More idiocy from the "trade deficits don't matter" while "free trade solves all problems" crowd. Don't believe a word he says. This year's 500 billion dollar trade deficit will be spent by foreigners on USA assets that throw off a profit, rent or interest.

On
US government bonds
US factories
US commercial and residential property
US farms
US raw land

[dennisw]

Also spent on
US stocks
US commercial paper

[A. Pole]

None of these Free trade puff pieces ever explain what great "new" jobs are waiting around the corner? What is the new market these visionaries percieve?

O, those are petty details which laid-off workers should figure out themselves. Let them pick up a new skill, move on or invent something new. The visionaries think in a much larger scale or are too busy making well deserved profits.