Joe Kaeser Quotes
Unfair trade practices should be regulated because they're unfair.
Kaeser, Joe. Interview. CNBC, 2018.
Democratic politicians of that era mostly opposed free trade because the experience ever since NAFTA showed that many manufacturing jobs were lost in the United States although many new jobs were created but few of these were good paying jobs that Americans with limited educations could perform as they were able to with manufacturing jobs. And during that period, the requirements for fair trade and foreign workers rights have been very poorly enforced. The Democrats split between those who thought that new trade treaties could be negotiated and enforced, correcting the problems of the past, and those who did not believe that such proper free trade was very likely.
During Theodore Roosevelt's administration there was a movement for tariff reform. The Speaker advised against any change, and the President finally accepted his view:
Millions of people were hungry. There was not enough wheat (they called it corn) to make up for the failed potatoes, and the aristocracy, the landlords, had a very high protective tariff to prevent American wheat from driving the prices down. The aristocrats would not budge on the “corn laws” so Victoria and her government appropriated funds to buy expensive English wheat to distribute to the needy. She also instituted some public employment so the unemployed would, as in the New Deal later, would work on public improvement. However, all administration went through the landlords who took large portions of the corn for the poor to pay themselves for the cost of distributing the corn to the needy. Then many landlords assigned the publicly paid workers to improvement projects on their own personal land. The Queen and Prince were furious and they began an effort that would repeal the Corn Laws and make England a free trading nation.
He was warning that the corporations and monopolies were taking advantage of the poor who, if there is not some balance of redress and justice will resort to violence such as the man who just short him. He gave the speech still bleeding with the bullet lodged in his body. He refused to go to a hospital or get medical care until he had finished his speech. See {633076}.
In England at the time, the liberals were for free trade and the conservatives against. In both England and America both liberals and conservatives have flip flopped their roles in foreign trade several times. Free trade is a two edged sword; it aids domestic growth, employment and prosperity in some cases and hurts them on others. And there are always winners and losers for each example of free trade within any country. The result is no long term commitment and much flip flopping.
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.
The President had decided to aggressively push for railroad regulation to end the rate rebate abuses that were used to support the monopolies like Standard Oil. In vintage Roosevelt tactics, he gave his first major speech on the subject in the setting and forum that would be most opposed to it. The Union League Club of Philadelphia in included the wealthiest men in the area where were most opposed to any Federal Regulation of anything. All the major railroad executives and stock owners and traders were also members. The President wanted to persuade the opponents to change their positions, and sometimes he did. He also was driven by his concept of sports and athletics so that the “opposition” should have “fair notice” for the contest ahead.
Joe Kaeser GCME is the current CEO of Siemens AG, Berlin & Munich, a role he has been in since August 1, 2013.
