16 May, 2016

Do Trade Agreements Kill Jobs?


Economic theory is no match for social reality. Politicians and voters are responding to the obvious loss of manufacturing. They can see that factories are closed, jobs are lost, and even entire industries that were invented in this country have disappeared and whole regions have been devastated. The rust belt is not just an economic model. The record shows that trade agreements like NAFTA were launched with an explicit promise of creating jobs. Instead hundreds of thousands of jobs evaporated. What went wrong?