http://www.nakedcapitalism.com/2007/12/edward-glaeser-on-whether-open-markets.html Mon, 23 Nov 2009 11:49:51 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.nakedcapitalism.com/2007/12/edward-glaeser-on-whether-open-markets.html#comment-2725 s Thu, 27 Dec 2007 14:51:00 +0000 http://www.nakedcapitalism.com/2007/12/edward-glaeser-on-whether-open-markets-contribute-to-growth/#comment-2725 Finally we are beginning to see a rational discussion of free trade, its benefits and costs. Free trade is a complete farse. As a service oriented economy, the mobility of capital it would seem takes a back seat to the mobility of labor. What if labor had the opportunity to transport itself to lower cost of living places and reverse the the wage arbitrage but without the commensurate loss in efficiency that comes from broader experience. This will never happen, because of the unsuspecting alliance of leftists who see it as income redistribution and corproate profiteers who see it as the last refuge of profitability. That unholy alliance ensures that this broken system will continue until it ends abruptly Finally we are beginning to see a rational discussion of free trade, its benefits and costs. Free trade is a complete farse. As a service oriented economy, the mobility of capital it would seem takes a back seat to the mobility of labor. What if labor had the opportunity to transport itself to lower cost of living places and reverse the the wage arbitrage but without the commensurate loss in efficiency that comes from broader experience. This will never happen, because of the unsuspecting alliance of leftists who see it as income redistribution and corproate profiteers who see it as the last refuge of profitability. That unholy alliance ensures that this broken system will continue until it ends abruptly

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