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Old 12-16-2011, 08:58 AM
Baz Baz is offline
 
Join Date: Oct 2010
Posts: 113
Default Re: Modern capitalist China?

Quote:
Originally Posted by sugarkang View Post
I'm seriously amazed how people on here just casually throw that allegation around. If you bother to find out what economists think, you'd arrive at the same conclusion. So, no. I didn't lie.
AemJeff was right sugar I shouldn't have called you a liar it was too strong...I apologize. The paper you linked to advocates free trade policies and claims there's a consensus on this within the economic community. But as Florian has said there's a huge difference between free trade in theory and free trade in practise and very often what is called free trade isn't the free trade that economists have a consensus on.

I wasn't talking about the theoretical models the economists use in their research or textbooks but the so called free trade agreements that are put into practise like NAFTA. In my opinion these are heavily if not totally influenced by the financial and corporate lobbies (as we should expect) who benefit from them. And I don't think this is controversial if we look at the effects on the working/middle class in the US.

From all the wealth created in the US from 1983-2004, 42% of it went to the top 1%, 94% went to the top 20%, the bottom 80% received only 6% of all the new financial wealth generated in the United States in this period.
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