Tuesday 8 March 2016

Beware of Populists Bearing Jobs....

The 2016 U.S. presidential election campaign has been one for the ages-- although not for the best of reasons. Particularly among Republicans, the debate of the 2016 campaign has put on display some of the ugliest facets of American political campaigns (see last post).

However, you'll be happy to know that a far more acceptable form of populist deceit in elections remains alive and well in both parties; the politics of opposition to trade liberalization. There's no comfort in that for those who see the merits of trade liberalization (myself included), but it could be construed as comforting for those who seek some refuge in something that makes sense to them in this campaign. The latest candidate skirmish on trade policy took place in the Democratic Debate in Flint, Michigan the other night; a rust-belt state, and ground zero for this kind of rhetorical mush.

Yet, in my view, there's good news ahead. The populist protectionism of the campaign has, in the postwar period, nearly always returned to default liberalism. Unfortunately for those that really buy into the rhetoric of protectionism, I have bad news for you; you're being lied to.

Let me explain.

Redefining the Floor....Down

I was scrolling through some YouTube clips the other day and came across the great Seinfeld episode in which Frank Costanza invites Seinfeld...