Brexit is one sign, maybe. In the USA, both major candidates are against the TPP multilateral trade deal. One is really against it, the other I think put her finger in the wind and decided that it just would not be the popular position to take in the current political climate to be for it, so she is against it. Discontent with the growing gap between the rich and the rest seems to be growing and now even the Republican base has revolted against what used to be Republican orthodoxy: that free trade is good.
In his speech at the Republican convention, Trump said that the median household income is $4,000 less than it was in 2000, and this has been fact-checked and appears to be true. (That's inflation-adjusted in case you are wondering).
That is the median. The family right smack in the middle. As their real incomes have fallen, the cost of living has continued to rise, especially things like health care and higher education. The top 1% have done much better in the same time period. So the middle class really is losing ground while the rich get richer. Unfortunately Trump is proposing to cut taxes in a way that the biggest tax cut goes to the richest. He may have put his finger on the problem, but his proposed solution is still a tax cut that would mostly benefit the richest. On the other hand, he blames bad trade deals with Mexico and China for these problems.
Whether he wins or loses though, it seems like the American electorate has lost its appetite for free trade.
In his speech at the Republican convention, Trump said that the median household income is $4,000 less than it was in 2000, and this has been fact-checked and appears to be true. (That's inflation-adjusted in case you are wondering).
That is the median. The family right smack in the middle. As their real incomes have fallen, the cost of living has continued to rise, especially things like health care and higher education. The top 1% have done much better in the same time period. So the middle class really is losing ground while the rich get richer. Unfortunately Trump is proposing to cut taxes in a way that the biggest tax cut goes to the richest. He may have put his finger on the problem, but his proposed solution is still a tax cut that would mostly benefit the richest. On the other hand, he blames bad trade deals with Mexico and China for these problems.
Whether he wins or loses though, it seems like the American electorate has lost its appetite for free trade.
via International Skeptics Forum http://ift.tt/2aPHDaT
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