March 29, 2007
A Curious Balance

Diane Rehm’s guests this morning on National Public Radio, to discuss the “Impact of Free Trade on American Workers”:

Alan S. Blinder, professor of economics at Princeton University
Fred Bergsten, director of the Institute for International Economics
Jeff Faux, founding president, distinguished fellow, Economic Policy Institute

So, let’s see, that’s:

Alan S. Blinder, member of Bill Clinton’s Council of Economic Advisers, liberal Democrat, Trilateralist;

C. Fred Bergsten, member of Jimmy Carter's Treasury Department, liberal Democrat, Trilateralist; and

Jeff Faux, founder of a left-wing think tank, ultra-liberal Democrat, author of The Global Class War.

Yep, that’s balance for you. Not surprisingly, they all favored an increase in tax-funded retraining programs and tax-funded “wage insurance”. The first two did disagree with Faux’s proposal that the US should stop signing trade agreements.

Posted by Lawrence H. White at 11:13 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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