We've got a #WITHPod on this topic with @WallachLori coming soon, but in the meantime. It's really crucial to distinguish the actual architecture of the current international trading regime, which is skewed and destructive in many many ways,
from the basic theoretical validity of Adam Smith's insights in Wealth of Nation's about trade, comparative advantage and the perils of mercantilism.
Nearly all of Trump's critiques of trade fall into the know-nothing, zero-sum category.
Nearly all of Trump's critiques of trade fall into the know-nothing, zero-sum category.
It is very very dumb and destructive to view the global economy like the Olympics where we're all competing for some finite number of medals and if China "loses" that's good for us because we can "win."
