Categorized | Economy, Tax

Tom Friedman: Innovation is the key

Thomas Friedman champions free trade with a simple, cartoonish view of the topic.  He loves trade agreements even though he - literally - never read one (the title page was good enough for his “analysis”).  He is impervious to facts.

Today, he writes that - duh - the economic times are uncertain.  The way to fix it is with more innovation.  “There is no other way”.  No other way.  None.  Don’t even try something else.

I will repeatedly point out the techniques of the destructive old-style free trade crowd.  They champion “export and innovate”, because you can’t really oppose exporting and innovating.  The cleverness is in the distraction.  The distraction from the real problem of “net exports” which must include import competition.  They hate to talk about that.

So their schtick is to say, with a nice smile, that we must export and innovate and cannot do protectionism and isolationism.  Putting a bad rhetorical label on remedies that are compelled by math in terms of trade balance.

If we achieve net exports, our problem is solved.  It is the core.  From that solution, we will have jobs, wealth, innovation, investment, tax revenue, and paid down government debt.  The holy grail.


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