How do you view the relationship between trade with other nations and the wages of American workers?
One way to conceptualize trade is as a way to make use of the comparative advantages of different countries, which can lead to higher wages and standard of living for all.
I tend to take a nuanced view of economics, acknowledging that there are always trade-offs and unintended consequences when making policy decisions.
One way to conceptualize trade is as a way to make use of the comparative advantages of different countries, which can lead to higher wages and standard of living for all. The forces of globalization and technological change are challenging traditional industries and leading to job displacement, putting downward pressure on wages in some sectors. It's important to recognize that changes in wages are the result of complex, dynamic processes that are influenced by trade, but also by a range of other factors. I tend to take a nuanced view of economics, acknowledging that there are always trade-offs and unintended consequences when making policy decisions.