Why trade and globalization concerns are resonating with voters at home _ pbs newshour

178464 178443 178443 Why trade, globalization concerns are resonating with voters The issue of trade, and whether our deals are helping or hurting American workers, is resonating with many prospective voters this election season. Definition of a tradesman For a closer look at how U.S. Definition of trade secret trade policy is playing out in the presidential race, Hari Sreenivasan talks to Thea Lee of the AFL-CIO and Matthew Slaughter of Dartmouth University. What is fair trade mean 2016-04-21 18:00:00 disabled 2365723346 84NwddpO_0c 202071 202036 http://www.pbs.org/newshour/bb/shopping-sunday-controversial-economic-idea-greece/ Why shopping on Sunday is so controversial in Greece Americans take shopping on a Sunday for granted. Trade exchange definition But Greece, a heavily religious country, has been reluctant to embrace the concept. Meaning and definition of international trade Now, seven years into a financial crisis, the International Monetary Fund is insisting that the government allow Sunday shopping, in an effort to kickstart the economy. Definition of trader Special correspondent Malcolm Brabant reports. Free trade definition 2016-12-22 18:00:00 http://newshour-tc.pbs.org/newshour/wp-content/uploads/2016/12/dayofrest1-e1482453982202-320×196.png 2365920867 zHe-SrZpF-4 202068 202035 http://www.pbs.org/newshour/bb/will-dcs-new-paid-family-leave-policy-help-hobble-business/ The debate on DC’s new paid family leave policy The District of Columbia just passed one of the leading paid family leave laws in the country: D.C. Designated trade definition parents who work in the private sector can now take eight weeks off at up to 90 percent of their pay. Trade definition in economics But opinions differ on the law’s economic impacts. Economic definition of trade Economics correspondent Paul Solman reports. Commodity trade finance definition 2016-12-22 18:00:00 http://newshour-tc.pbs.org/newshour/wp-content/uploads/2016/12/balancingact3-e1482453812754-320×196.png 2365920876 aMky8ZoDdRs 201450 201448 http://www.pbs.org/newshour/bb/prediction-market-prophets-bet-wrong-president/ How prediction market prophets bet on the wrong president The election outcome shocked the world. Trade organization definition Pollsters, pundits and prediction market traders overwhelmingly predicted a huge Clinton victory. Foreign trade multiplier definition There were, however, some dissenters. Trade compliance wiki Economics correspondent Paul Solman explores how history and economic factors can shed light on the upset. Carry trade definition 2016-12-15 18:00:00 http://newshour-tc.pbs.org/newshour/wp-content/uploads/2016/12/odds3-320×196.jpg 2365916204 YAT6KynXukY

HARI SREENIVASAN: As the candidates campaign in Pennsylvania, Indiana and elsewhere, one of the issues resonating strongly this year is trade, and whether it’s helping or hurting the American economy and its workers.

This week, our colleagues at NPR have been looking more closely at these issues as part of an ongoing series of reports we are jointly doing about issues on the campaign trail.

For more on how trade is playing out in the race for the White House, I am joined by Thea Lee. Definition of trade marketing She’s deputy chief of staff at the AFL-CIO and an international economist.

To trade definition And Matthew Slaughter, dean of the Tuck School at Dartmouth College. Auxiliaries to trade definition From 2005 to 2007, he served on the Council of Economic Advisers to President George W. Trade cost analysis definition Bush.

American workers have really not benefited from a lot of changes in the economy over the last couple of decades. Definition free trade We have seen that real wages are essentially flat for more than four decades. Definition of home trade And so we have had a period of tremendous economic growth and technological innovation and globalization, and yet American workers are working harder than ever.

They’re more educated than ever. Trade report definition More people in each family are working, and they’re not really making ends meet. Definition of trade winds And trade has been a key contributing factor. Trade area analysis definition It’s not the only factor. Definition of barriers to trade It may not even be the largest factor. Trade standards definition But it is a key policy choice that we have made.

And when we have a decision about a big trade agreement like the Trans-Pacific Partnership, this focuses the attention. Fair trade definition and principles And I think we have seen candidates really take advantage of that attention on trade right now, and workers are responding and it’s resonating.

MATTHEW SLAUGHTER, Dartmouth College: I think Thea is right that the American workers, a lot of them sitting around their kitchen tables thinking about voting, they have not performed as well as they had in the past.

They’re concerned about their prospects. Definition on trade They’re concerned about their children. Global trade definition And yet I think what’s important to keep in mind is trade in particular and globalization more generally, they have generated large gains for America overall over the many decades.

THEA LEE: Right, we have no major presidential candidate candidates from either party right now that are supporting the Trans-Pacific Partnership, for example.

And I think the reason is that the gains have actually been relatively small. American foreign trade definitions And the distributional consequences have been large. By trade definition And on top of that, we have doubled down. Definition of trade in And instead of compensating the losers, you know, taxing the winners to compensate the losers, in some ways, we have done the opposite. Foreign trade zone definition We have cut tax rates for the wealthy. Trade journals definition We have decimated the social safety net.

We have gotten rid of education and training and infrastructure programs. Domestic trade definition It’s almost like we have transpired to make trade less successful in the global economy — in the U.S. Economic trade definition economy as it affects American workers. Trade finance definition pdf We haven’t done what we needed to do. Yen carry trade definition We haven’t negotiated the right kind of trade agreements, and then we haven’t taken the steps in the domestic economy that would mitigate the distributional consequences and also make sure that the United States was truly competitive in the global economy.

MATTHEW SLAUGHTER: Well, I think a lot of it has to do with politics is oftentimes very local. Trade sector definition It’s long been the case that international trade and other dynamic forces in the U.S. Definition for free trade zone economy, like technological change, the benefits often accrue to many different companies and many different communities and workers in ways that aren’t always immediately visible.

And yet the forces of dynamic change like trade, the losses in those who don’t directly benefit are oftentimes quite concentrated and visible.

And so I think what’s a little concerning in the current political environment is, it’s typically presidents, in particular, who by definition should be thinking about the aggregate economic well-being for America. Definition of international trade pdf We seem to have lost the narrative of the benefits that trade and globalization have generated for America.

Those benefits include things like a spur to innovation for companies, a greater return on the investments they make in new ideas. Definition of domestic slave trade We have long known, for example, that companies engaged in exporting, they tend to pay much higher wages than do companies elsewhere in the U.S. Aids to trade definition economy.

So, we need to remember in the current political conversation the benefits that globalization has generated and good agreements like the TPP could generate more of in the future. Modern trade theory definition Thea is definitely right. Structured trade finance definition We need to think about ways to expand and strengthen the social safety net, and I think the TPP is a positive step forward in that direction.

THEA LEE: Well, it takes — we haven’t seen the benefits. What is slave trade definition American workers have not seen the benefits of trade agreements. Off trade marketing definition That’s just a basic fact.

And in some ways, I think Matt has the story exactly wrong, that rather than benefits being widespread and the negative consequences concentrated in a few workers who lose their jobs, in fact, what we’re seeing is that overall, in the economy, workers are seeing stagnant and falling wages.

And so, you know, even the cheaper prices that we get from imports and from trade has not offset the fact that our job market is not delivering those jobs. Definition of a trader And trade has been a key part of that. Trade journals or publications definition We see it in communities. Inter industry trade definition Workers feel it every day.

MATTHEW SLAUGHTER: So, it is well-known that companies and their workers that are connected to the global economy through trade and international investment, the academic research is very clear. Trade accounts receivable definition Those tend to be better jobs on a lot of dimensions that all voters, I think, in America care about.

So, I think the key question from a policy perspective is, A, how do we have smart trade and investment agreements with the rest of the world that allow more workers to be connected to the opportunity of the global economy, and, at the same time, design a stronger, more resilient, better-funded social safety net, so that workers, whether it’s through trade or technological change, or whatever dynamic forces, who aren’t doing as well as they would like in the American labor market, we provide more public supports for those people to have better opportunities in the future?

HARI SREENIVASAN: NPR’s next story in the series A Nation Engaged can be heard on Saturday night on “All Things Considered” with Michel Martin.

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