Saturday, February 9, 2008


Hillary Clinton has taken an even stronger stance against free trade, suggesting that the economic theories underpinning it no longer hold. To support that she cited economics Nobel Laureate Paul Samuelson, but he was only making the long-understood but sometimes forgotten point that, even in the long run, free trade does not benefit everyone.

Mrs. Clinton believes in "smart trade." As president she would appoint an official to ensure that "provisions to protect labor and environmental standards" are enforced by international bodies like the WTO and the International Labor Organization. She proposes a "time out" on future trade agreements, and a reconsideration of existing deals -- including Nafta.

Barack Obama is more even-handed: "Global trade is not going away, technology is not going away, the Internet is not going away. And that means enormous opportunities, but [it] also means more dislocations." In a 2005 essay he said: "It's not whether we should protect our workers from competition, but what we can do to fully enable them to compete against workers all over the world."

-The Candidates and Trade

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