A good op-ed by the above title in yesterday’s WaPo by Sebastian Mallaby. We don’t always agree with him (he’s just flat wrong on the death tax, for example), but here he makes some good points. Mallaby is a free-trader and talks about the need to move trade forward in the new Congress. Says Mallaby:
“The real key to raising living standards is economic growth. And growth, in turn, is highly correlated with trade openness. One World Bank study showed that poor countries whose trade grew as a share of the economy recorded gains in income of 5 percent per year in the 1990s; by contrast, poor countries whose trade did not expand had no income gains whatever. So Democrats need to accept that holding up trade agreements to insert labor protections is going to harm workers, not help them.” (Emphasis Ours)
In any event, we don’t necessarily agree with all the points in this article, but the general thrust, we thought, is pretty good. Click here to read it all.
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