The benefits of free trade have been a cornerstone of economic thought for decades. Recently, though, trade agreements have become the target of a populist backlash, with opposition to trade deals emerging as a key issue in the presidential race. At the same time, new research suggests that trade led to lower wages and higher unemployment for some Americans, particularly middle-class manufacturing workers. We asked Bloomberg View columnists Tyler Cowen and Noah Smith to meet online to debate the pros and cons of trade.
For more than a century, rural towns sustained themselves, and often thrived, through a mix of agriculture and light manufacturing. Today, however, a Wall Street Journal analysis shows that by many key measures of socioeconomic well-being, those charts have flipped. Read moreRead More »
As attempts by Congress to pass meaningful immigration reform repeatedly fail, those in agriculture are steadily moving forward in a race to develop and adopt the newest technologies in automation—primarily robotics—to stem the need for immigrant farmworkers. New technologies alone, however, are unlikely to solve the worsening farm labor shortage,[…]Read More »