CSPAN3 Politics Public Policy Today January 27, 2015
Of living. The research on standard of living shows unambiguously that trade is great for these reasons. I just make two observations. Trade is great when say, japan is in recession. Japan is a huge economy. If japan werent in recession, it would be a huge economy plus 3 . So the returns arent that different no matter whats going on with japans Business Cycle or any of our trading partners. The second is i think to the extent the world is becoming more chaotic, what does this mean about the returns to trade . I think arg automobilely that raises the returns to trade. We are a world with greate...