If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.
I would like to believe that TPP will lead to more exports and jobs for the American people. But history shows that big trade agreements - from NAFTA to the Korea Free Trade Agreement - have resulted in fewer American jobs, lower wages, and a bigger trade deficit.
Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.
Outsourcing was the bogeyman of the 90s. Protectionists portrayed it as an evil that would take American jobs away. Yes, some jobs did go offshore as people feared, but it made the global economic pie grow bigger.
Outsourcing was the bogeyman of the '90s. Protectionists portrayed it as an evil that would take American jobs away. Yes, some jobs did go offshore as people feared, but it made the global economic pie grow bigger.
"Jobs for every American" is doomed to failure because of modern automation and production. We ought to recognize it and create an income-maintenance system so every single American has the dignity and the wherewithal for shelter, basic food, and medical care. I'm talking about welfare for all. Without it, you're going to have warfare for all.
Jobs for every American is doomed to failure because of modern automation and production. We ought to recognize it and create an income-maintenance system so every single American has the dignity and the wherewithal for shelter, basic food, and medical care. I'm talking about welfare for all. Without it, you're going to have warfare for all.
When American workers are losing their jobs to people in other countries, Washington cannot afford to ignore this disturbing trend any longer. While Democratic presidential candidates want to just blame U.S. corporations, the reality is that their strategy won't help protect American workers or save their jobs.
Besides taking jobs from American workers, illegal immigration creates huge economic burdens on our health care system, our education system, our criminal justice system, our environment, our infrastructure and our public safety.
Suppose Vietnam could separate itself from the American dominated global system and carry out a successful social and economic development. Then that is very dangerous because then it could be a model to other movements and groups in neighboring countries. And gradually there could be an erosion from within by indigenous forces of American domination of the region.
The rest of the world needs the U.S. economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.
The free market and regulatory reforms enacted by a Republican-led Congress and President Trump have resulted in a blue-collar recovery, breathing life and jobs into working-class communities that Democrats had written off as expendable collateral damage in the inevitable globalization plans of American and global elites.
The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.
Stop exporting American jobs. Stop exporting American factories, and stop exporting American sovereignty and independence to global institutions like the World Trade Organization.
One of the major forces driving the decline in wages and the concentration of wealth at the top is the offshoring of American jobs overseas - reducing wages not only in manufacturing but also across the economy.
It is hard as an American to support the failure of American military operations in Iraq. Such failure will bring with it the death and wounding of many American service members, and many more Iraqis.