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Cassian Young
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This provides the basis for a very strong case against NAFTA. Its easy (and lazy) to equate human welfare with financial aggregates. Experimental evidence proves that this relationship doesn't hold. Rising GDP doesn't increase our welfare once GDP passes $20K per head. Most developed nations have shown flat lining levels of welfare since the 1950s. But falling incomes and job security do effect welfare - strongly and negatively. Ergo a policy which is very mildly positive for all with pockets of very negative impact is almost certainly net negative on human welfare. Adair Turner's book Economics After the Crisis provides the background. Twin his results with this article and it looks like Trump's right about NAFTA.
Toggle Commented Jan 27, 2017 on What did NAFTA really do? at Dani Rodrik's weblog
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Jan 27, 2017