Friday, July 28, 2017
RE THE NEW DEAL OF WORLD TRADE
The New Deal of World Trade article makes some points I have discussed often in the past.
Few people nowadays pay any attention to this most important of developments in American foreign policy.
It has had a profound impact on what occurred simultaneously, The New Deal.
Most Americans blame the ills of globalization on Republican tax breaks for the wealthy starting with Reagan in 1980.
The big problems for the American middle and lower so called classes, and for the American people as a nation, had started much earlier, in 1930, had been caused by policies other than lower taxes for the wealthy, had been implemented primarily by Democrats, had coincided closely with, and were actually camouflaged by, the New Deal itself, and then spectacularly, by WWII.
The recovery that was lead by the US following WWII, the institutions as well as The Marshall Plan, played directly into and augmented these already nationally disadvantageous tariff and trade policies.
The recovery that was lead by the US following WWII, the institutions as well as The Marshall Plan, played directly into and augmented these already nationally disadvantageous tariff and trade policies.
The New Deal of World Trade discusses these issues and makes some important observations.
I recommend looking at Alfred Eckes' book Opening America's Market: US Foreign Trade Policy since 1776, in terms of the New Deal and FDR's foreign trade policy, and then what has happened after.
It is hardly simply a partisan fairytale about how the Republicans, starting with Reagan, began to roll back the New Deal only in 1980.
It is hardly simply a partisan fairytale about how the Republicans, starting with Reagan, began to roll back the New Deal only in 1980.
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