When we start to place limits on global trade through tariffs on imports, we are not just harming the producers of those goods in other countries. We are harming US manufacturers who rely on those imports for their production here (and the jobs that go with it).
President-elect Donald Trump rose to win the Presidency in large part due to his anti-trade positions and promises to save American jobs. The problem is that almost everything Mr. Trump says about trade is demonstrably wrong.
Once we put production at the center of our attention, our surprise at the extremes of income and wealth might suggest the question whether there are comparable extremes in the production of wealth, and whether these two extremes may have something to do with each other.
Beyond a point, wealthy people invest. They often live far below their means and invest the rest. Is it really them, then, that benefit from their capital?
Attorney General Holder apparently intends on riding the populism train as far as it will take him to punish the banks that defrauded the American public. Perhaps he can explain how complying with Federal banking laws constitutes mortgage fraud.
“America needs a breakout movement, a new politics that is less about the Right versus the Left than about the future versus the past. It will require a new political language, new coalitions of pioneers and champions who understand the importance of breaking out, and new assertiveness in exposing the prison guards of the past.”