Globalization’s So-Called Winners and Losers

This post explains how we have all grown richer from trade. It corrects some fallacies that are prevalent among people who do not understand that trade — with your grocer down the street or a car maker in Korea — is a positive-sum result. Both sides benefit; you gave someone money and in return you received groceries or a car.

Analyst Chelsea explains it better. Here.

My view is the main problem is the political class — politicians, bureaucrats — have distorted the give-and-take of the economy that it does not work correctly. In other words, they broke it.

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