First of all, Dr. Sowell is probably the least practiced spinmeister of all time. He is clear and thorough with his observations.
Secondly, I take from your comment that you are against free trade? That is a flawed position my FRiend. Free trade is a good thing, even if "just about everything what was made here is now made elsewhere". Don't fall into the trap that Dr. Sowell is describing where you only look at one half of the equation.
Thanks for reply. I disagree with any trade agreement other than we buy product from you and you buy product from us.
What is now called 'free trade' are agreements between governments where we agree to buy items from other countries and pay for them with jobs, factories and Treasuries. I see this as faulty.
I see this as successful model for corporate balance sheets but unsuccessful for the nation's balance sheet. The unemployed citizens, removed from the business ledger, are transferred to the government ledgers. This is costly for the nation.
People needs to have productive work making things, buying things and paying taxes. This needs to be worked out because the alternative of living on foreign labor rates and environmental conditions will cause massive political ramifications hardly a desirable outcome for cheaper goods. Regards,