Forbes, March 8, 2016: (Op-Ed) China Trade Has Been Hugely Beneficial For Low-Income Americans
“But there’s the other side of this that we’ve got to consider too. What is the effect of trade upon consumption? That is, after all, why we even bother to trade, to get our hands on all those lovely things that Johnny Foreigner can make better or cheaper than we can. If trade means that we get stuff cheaper then we’re better off. And if trade means that low-income Americans get more cheaper stuff than richer Americans then that means that the low income folks are becoming better off relative to those richer folks.”