"Free Trade or Fair Trade?"
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Burton Folsom, Jr., Hillsdale College Alfred E. Eckes, Author, Opening America’s Market: U.S. Foreign Trade Policy Since 1776 Donald J. Boudreaux, George Mason University Ian Fletcher, Author, Free Trade Doesn’t Work: What Should Replace It and Why The Free Market Forum seeks to encourage the study of free enterprise by bringing scholars together for dynamic exchanges of ideas on topics related to free market economics. Hillsdale College, in conjunction with the Acton Institute and the Council for Christian Colleges & Universities, launched its Center for the Study of Monetary Systems and Free Enterprise in 2006. As part of its educational mission, the Center sponsors the Free Market Forum to promote understanding and appreciation of free market systems. Watch all of the 2016 Free Market Forum presentations at https://www.hillsdale.edu/educational-outreach/free-market-forum/2016-free-market-forum/ Hillsdale College's website: http://www.hillsdale.edu/
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I have made the Ricardo and Smith argument for years now. This is a great discussion. In regards to dealing with the fallouts of bad trade policy I believe professional retraining, specialization, and secondary skill training should be shared between the employer and employed.
New technology implementation and training is a producer/employer consideration and obviously an important one. It is important to remember, at least in my opinion that nearly all labor intensive I think the pair sharing the burden signals each party's desire to be as productive as possible which in the aggregate will help the economy. In a micro economic sense this pursuit of super efficient production is obviously mutually beneficial. -
As for the transition training expense for the unemployed workers, who should bear the burden for that? Is it unfair to ask those who enjoyed the consumer surplus to chip in for this expense? How about the cost of deteriorating safety and education in high unemployed area? who should pay for the investment to reinvigorate these areas?
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I wonder why no discussion of how tax/tariff were spent ever happened in these debates, or how industrial power especially US German Japan Russia ALL built their industrial powerhouse and skilled labor force under government protection/regulation/direction?
When everyone was happy to discuss consumer surplus, why no one ever mentioned labor skill deficit, public fund deficit and social capital deficit? What is the deficit for public coffin when a skilled work lost his income and had to rely on welfare for 6 month? or some of unemployed workers turned into criminals, and the public had to pay 40,000 to put him in jail? -
Japan ran trade surpluses year after year after year. Same with Germany. We're told trade U.S. deficits are just fantastic. When did you ever do badly when you had more money coming in than going out?
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Ian destroyed that leftist . North Pole... Santa... HA HA HA HA !!!!
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America should try autarchy, welfare of the people would soar.
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1:16:38 - Got a bit of showdown goin on there. I like it
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