Re:UK to depart from GDPR
by dash2 on Saturday March 13, 2021 @01:38PM
(#26448774)
"I think you'll find it's a bit more complicated than that."
One particular reason: while trade increases welfare, it also has distributional effects. As trade barriers go to zero, the marginal effect on welfare of a further reduction becomes small, compared to the marginal effect on distribution.
Another reason: globalization allows capital to avoid restrictions (e.g. on environmental externalities, child labour, slavery) that are seen in the West as part of the social contract.
One particular reason: while trade increases welfare, it also has distributional effects. As trade barriers go to zero, the marginal effect on welfare of a further reduction becomes small, compared to the marginal effect on distribution.
Another reason: globalization allows capital to avoid restrictions (e.g. on environmental externalities, child labour, slavery) that are seen in the West as part of the social contract.
Here's the Autor paper: https://www.nber.org/system/files/working_papers/w18054/w180...
Dani Rodrik's recent work on populism: https://www.nber.org/system/files/working_papers/w23559/w235...
And his classic "Has globalization gone too far" is worth reading too.