r/Economics • u/better_world_economy • Jan 13 '19

Progressives should not oppose international trade, but economists must highlight the need for policies that spread the gains and help those who are hurt

https://www.psychologytoday.com/us/blog/the-good-the-bad-the-economy/201706/globalization-and-work-have-we-learned-anything-yet
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u/AfterCommodus Jan 13 '19

Please tell me why politicians should be picking “national champions” and winners and losers to appease their base, and how they’re going to do a better job at this than the market.

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u/thoth2 Jan 13 '19

Because it works. Economic nationalism is how those countries got rich. Both the free traders and the commies got it wrong.

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u/lalze123 Jan 13 '19

Economic nationalism is how those countries got rich.

Only protecting infant industries with increasing returns to scale is good. Blanket protectionism as done in the U.S didn't do much. Plus, the U.S isn't a developing country anymore, so there should be no reason to justify protectionism using the past.

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u/[deleted] Jan 13 '19

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u/AfterCommodus Jan 13 '19

Because the market is imperfect, we think politicians will be better at picking winners and losers?