Bob Sullivan just published a really good article talking about the income inequality facing people today. He challenges all political candidates to take a closer look at why America is struggling to get ahead.
Here is an excerpt. You can read the full article online, click here.
“Let me give you a head start. For decades, economists have extolled the virtue of letting markets and trade run fee. Lower trade barriers lead to more movement of money and goods, and that eventually benefits everyone. While that seems to be true…eventually being the key term… *some* economists are finally starting to recognize that people suffer during this process. A lot. For a long time.
Economics is called the dismal science for a reason. Economists seem way too willing to allow people to suffer while holding to their macro-economic theories which work nicely on perfect planets. Here on the dirty earth, things get messy. To wit: It’s generally believed that lowering trade barriers between low-wage and high-wage nations will make everyone richer, even folks who lose high-paying jobs to new competition, because they’ll simply get better jobs. Sadly, folks tend to skip over where those better jobs will come from, other than perhaps a token mention of “retraining.”
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