By Karen Petrou

…foreign competitors get to make the goods, and we just buy them.
And then they buy up American companies with the profits.  And
yes, in this bargain there are lots of jobs—jobs on Wall Street, or in
Hollywood, or in Silicon Valley…At the same time, it has encouraged
multinational corporations to move jobs and assets overseas to chase
the cheapest wages and pay the lowest taxes.  And it has rewarded
these same corporations for then turning around and investing their
profits not in American workers, not in American development, but in
financial instruments that benefit the cosmopolitan elite.  And where
has this left middle America?  With flat wages, with lost jobs, with
with declining investment and declining opportunity.  We don’t make
things here anymore—at least, not the kinds of things a normal person
without a fancy degree can build with his hands. Continue reading “Cosmopolites, Financiers, Monopolists, and the 2020 Election” →