Trade, Tariffs, and Soybeans
Trump has consistently claimed that exporters, those countries who are “ripping us off,” are paying the tariffs. However, the actual data tell a different story.
A review of The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America—and Spawned a Global Crisis by Michael W. Hudson. (New York: Times Books, 2010.)
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The main narrative that I hear in mainstream press is that U.S. workers are being undercut and eventually displaced by global competition. I think this narrative has a tone of inevitability, that low wages and job loss are driven by huge impersonal forces that we can't do much about. Is this right?