#1204 The past, present and future of international trade
Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy
Jay Tomlinson
4.5 • 3.4K Ratings
🗓️ 24 August 2018
⏱️ 78 minutes
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Summary
Air Date: 8/24/2018
Today we take a look at some of the historical context for the dynamics of international trade, some progressive ideas about managing the domestic results of trade, the economics and politics of tariffs and the dangers of trade wars.
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SHOW NOTES
Prof. Richard Wolff gives an overview explaining what tariffs are, how they work and why they're put in place.
Michael Hudson discusses the so-called "trade war" developing between the U.S. and China.
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The Inquiry looks at the forces driving the trade conflict between the US and China including some important historical context.
Dani Rodrik on how globalization predictably deepens societal divisions, exacerbates distributional problems and undermines domestic social bargains which is why having robust social safety nets is critical in an age of global winners and losers.
Prof. Richard Wolff discusses the impact of Donald Trump's reckless trade policies on the Thom Hartmann Program. Could they lead to a war?
Jason Hickel examines the creation of mass poverty in the Global South from exploitation built into global trade and aid policies to the echoes of colonialism in structural adjustment programs of the World Bank and International Monetary Fund.
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Transcript
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| 0:20.5 | Now welcome to this episode of the award-winning best of left podcast in which we shall learn |
| 0:25.1 | about some of the historical context for the dynamics of international trade, some progressive |
| 0:30.4 | ideas about managing the domestic results of trade, the economics and policies of tariffs |
| 0:36.2 | and the dangers of trade wars. |
| 0:38.4 | Clipsidae come from economic update with Professor Richard Wolff, left out, the inquiry, the |
| 0:44.3 | Ezra Klein show, the Tom Hartman program, and this is hell. |
| 0:50.5 | First so we're all on the same page, what is it, Tariff? |
| 0:53.5 | It's just a name for a particular kind of tax. |
| 0:56.6 | A tariff is the tax you put on something when it comes into your country from somewhere |
| 1:02.0 | else. |
| 1:03.0 | The mere fact that it was produced elsewhere incurs a tax which we the United States put |
| 1:09.9 | on those commodities that come into the country from outside to make them more expensive |
| 1:15.4 | for Americans who have to pay the price of the good plus the tax on top of it. |
| 1:20.5 | That's all. |
| 1:21.8 | Why are tariffs levied? |
| 1:24.7 | Answer. |
| 1:26.7 | Industries, all kinds, agricultural, manufacturing, you name it. |
| 1:31.0 | Try to get help from the government when they're in trouble with competitors from abroad. |
... |
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