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Protectionism hurts working class Americans

Posted on May 29, 2008 by Floyd Mann

In last week's New Yorker, James Surowiecki makes a point made previously on this site: "Free trade with poorer countries has a huge positive impact on the buying power of middle- and lower-income consumers [in America] — a much bigger impact than it does on the buying power of wealthier consumers."

The anti-trade rhetoric from the Democratic presidential contenders may play well in the Rust Belt, but pursuing protectionist policies not only will hurt our standing abroad, but also will erode the buying power of working class Americans. As Surowiecki puts it, "Obama and Clinton, in their desire to help working Americans — and gain their votes — are pushing for policies that will also hurt them."

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