Protectionism

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I think Matt Yglesias makes a pretty good political point here about trade policy:

If you convince people that it’s not possible for monetary authorities to boost employment, and that it’s unwise to use fiscal policy to boost employment, then it starts to look irresponsible for politicians not to use trade restrictions to protect the jobs of people in their state/district. When an economy is near full employment you can say trade makes the pie bigger and people who lose their jobs will get new jobs. But [if] we’re years away from full employment — which both the Fed and the White House seem to think — then getting laid-off is catastrophic.

The Fed is obviously more concerned about inflation than it is about unemployment right now, and Congress likewise seems unwilling to do very much more to help create jobs.  In an environment like that, public pressure for trade restrictions becomes hard to resist.  So if free traders really want to keep protectionist sentiment tamped down, they’d be well advised to start supporting domestic policies that create jobs, bring down unemployment, and reduce the kind of financial fear that drives protectonist sentiment in the first place.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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