Claim: open trade benefits only the wealthiest in U.S. Because they buy all the clothing, right? [David Henderson, EconLog] Filed under: free trade By Walter Olson March 29, 2016 One Comment
One Comment
No, because they (the wealthiest) profit from the IMPORT TRADE. The non-wealthy, whose productive jobs have been EXPORTED, get a TRADE-OFF: Lower prices to soften the effects of falling incomes.