Yale's Shiller: Free Trade Isn't Unambiguously Good

The video discusses the impact of tariffs and trade deficits on economic growth, highlighting differing views among economists on free trade. It covers the creation of trade adjustment assistance by Congress to help those affected by job losses due to free trade. The debate on whether to impose tariffs or enhance trade adjustment is explored, with references to Obama's proposal and Trump's self-reliance philosophy.

What is the argument made by some economists regarding trade deficits and economic growth?

• Trade deficits increase economic growth.

• Increasing imports boosts economic growth.

• Reducing imports can lead to faster economic growth.

• Trade deficits have no impact on economic growth.

What is the purpose of the trade adjustment assistance program?

• To increase tariffs on imports.

• To promote free trade agreements.

• To provide subsidies to exporters.

• To assist people who lost jobs due to free trade.

What is a growing recognition among economists about free trade?

• Free trade benefits everyone equally.

• Free trade is unambiguously good for the economy.

• Free trade can harm some people within the economy.

• Free trade should be replaced with protectionism.

How does Trump's approach to trade policies differ from Obama's?

• Trump emphasizes self-reliance and inspiration.

• Obama discourages trade adjustment assistance.

• Obama promotes tariffs and trade barriers.

• Trump focuses on welfare programs.

What is a key aspect of Trump's political message as discussed in the video?

• Encouraging reliance on government support.

• Inspiring individuals to achieve their potential.

• Promoting international trade agreements.

• Focusing on environmental policies.