Home > Labour Market, Trade, Unemployment > Trade sees demise of American Middle Class

Trade sees demise of American Middle Class

Here is a recent clip from Paul Solman of PBS which looks at free trade being the cause of the demise of America’s middle class. A new book entitled “The Betrayal of the American Dream,” by investigative reporters Donald Barlett and James Steele suggest that as manufacturing jobs went to developing countries overseas the middle class in America has seen their standard of living drop. As Donald Bartlett states –

The real bottom-line question is, what kind of a society do we want? Do we want a society built on the principle that the only thing that matters is the lowest possible price or a society built on the principle that everyone should have a living wage?

And those are going to be two very different societies. And this goes back again so what we’re talking about. The people up here, they don’t want everyone to have a living wage.

In order to protect Americans jobs the government needs to get tougher on free trade and impose some barriers to trade like quotas and tariffs.

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