Dani Rodrik does a wonderful job framing politically framed economics and our American experience. Worth reading the whole thing.
By overlooking the problems created by trade in instances where regulatory arbitrage does play an important role, we miss the opportunity to celebrate the kind of globalization where such arbitrage doesn’t play a role. The latter type of trade probably constitutes the bulk of world trade. But because economists do not make this important distinction, they have no language or ability with which they can respond appropriately to the uneasiness out there–except for calling it irrational.
Update: I will be adding links as the day goes on…the issue has traction.
Tyler Cowen begins the conversation.