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The Price of Nostalgia: America’s Self-Defeating Economic Retreat

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What the U.S. economy needs now is greater exposure to pressure from abroad, not protectionist barriers, says Adam Posen. (Shutterstock)
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A new consensus has emerged in American politics: that the United States has recklessly pursued international economic openness at the expense of workers and the result has been economic inequality, social pain, and political strife. To in reality, America has increasingly insulated its economy from foreign competition, while the rest of the world has continued to open up and integrate.

What the U.S. economy needs now is greater exposure to pressure from abroad, not protectionist barriers or attempts to rescue specific industries in specific places.

Read More at Foreign Affairs

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