Free Trade
"Freer Trade Could Fill the World’s Rice Bowl," by Tyler Cowen in The NY Times
"America Needs to Make a New Case for Trade," by Lawrence Summers in The Financial Times
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Monday, April 28, 2008
"America Needs to Make a New Case for Trade," by Lawrence Summers in The Financial Times
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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2 Comments:
Two very good pieces present a compelling case for the benefits of trade and globalization.
These arguments however, address the cognitive brain but not the emotional brain. By contrast, populism taps into very intense emotions of fear and anger bypassing logical forms of argumentation. The power of emotions on human decision making is evidenced by the fact that sound arguments for trade are losing ground.
Milton Friedman eloquently projected excitement, optimism, confidence, and enthusiasm for the innovation and diversity of humanity. I believe that these emotions/attitudes can counter the negativity and defeatism of populism.
Invariably people choose life and hope over negation. An example of this resilience is that children who survived the Nazi death camps went on to fall in love, marry and have children. We choose to be more rather than be limited by our negative experiences.
The future is fun & exciting and the present generation has more opportunity than any previous generation.
Can Americans compete...just try to stop them.
Well the problem with trade is needing to convince the, "economics challenged" to get a grip on reality...
Note the words of Robert Samuelson: The Wrong (Trade) War
Almost everyone wishes for a renaissance of American manufacturing, and none have said so more louder than the Democratic presidential candidates and Democratic members of Congress. The trouble is that their deeds don't match their words. They have blamed trade for almost anything that might ail the U.S. economy -- in particular, manufacturing -- when the opposite is now true: only through expanded trade can the economy thrive and manufacturing stage a comeback.
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