Robert Reich Quotes
Globalization and free trade do spur economic growth, and they lead to lower prices on many goods.
Reich, Robert B. Supercapitalism: The Transformation of Business, Democracy, and Everyday Life. Alfred A. Knopf, 2007, p. 75.
Whitaker was right bet at that time his advice was not heeded. When Ireland late in the 20th century finally acted on his advice and eliminated almost all of their protectionism, the economy thrived and not only did the Irish emigration stop, but people began to immigrate to Ireland for the economic opportunity.
Foreign trade creates jobs and eliminates jobs. The people who lost jobs as the result of increased foreign trade are readily identified while the job beneficiaries may never know the reason. So it is a hard political sell even though most of the economic studies have showed that more jobs of more value are created by trade than lost. However, the losers are generally blue collar workers while the beneficiaries are generally white collar and knowledge workers. So there is a socioeconomic class differentiation in the trade issue.
Robert Bernard Reich is an American economist, professor, author, and political commentator. He served in the administrations of Presidents Gerald Ford and Jimmy Carter, as well as serving as the United States Secretary of Labor from 1993 to 1997 under Bill Clinton. He was a member of President Barack Obama's economic transition advisory board.