Fed Chair Ben Bernanke traveled to America’s heartland — Omaha, Nebraska — yesterday to make a speech on income inequality. It’s a serious discourse, full of statistics and weighty prose. But most importantly, he cautioned against the growing protectionist tide, saying:
“[H]indering the adoption of new technologies or inhibiting trade flows would do far more harm than good, as technology and trade are critical sources of overall economic growth and of increases in the standard of living.”
He urged a greater focus on education and training — with which we heartily agree — to ease the impact on workers while bolstering their earning power.
In any event, here’s a link to the full speech.
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