A documentary on the well known tale of the rise and fall of Detroit, as it pertains to the free trade market.
Tag Archives: Unemployment
It has become increasingly clear that good news for Wall Street does not mean good news for average Americans. Multinational corporations continue to profit from our misguided and disastrous free trade agreements, pushing the value of their stocks up while putting American workers on the streets.
At an individual level, our economy is driven by consumption (70 percent of GDP is consumer spending). Since most of this consumption is on foreign goods, to restrict that flow would have a devastating effect on many industries. Industries that would suffer include retailing, as most textiles are produced overseas, as well as electronics equipment and components; freight and shipping industries would suffer as trillions of dollars flow over transportation routes each year; and finally, marketing, advertising, law, and banking, are all tied directly to American consumption of foreign goods.
Democrats and Republicans are constantly swept up in debate regarding labels. Republicans generally argue for free trade while a few progressive democrats campaign for fair trade. In reality, all that American citizens are doing is getting caught up in a false-ideological battle whilst ignoring actual issues. “Free trade” and “protectionist” fair trade are just labels: Americans should simply be focused on “trade” and what is best for our country. Is this not the policy every country should adopt?