The Progressive Case for Free Trade

The video discusses the impact of tariffs on American workers, highlighting how they act as consumption taxes and disproportionately affect the poor. It explores the challenges of communicating the benefits of international trade to the public and suggests policy solutions like expanding the earned income tax credit. The discussion also covers trade agreements, their economic impact, and the role of capitalism in inequality, suggesting reforms within the existing system to address these issues.

How do tariffs affect consumers, particularly those with lower incomes?

• They only affect luxury goods.

• They increase the cost of goods, impacting the poor more.

• They have no effect on the cost of goods.

• They decrease the cost of goods, benefiting the poor.

What is one suggested policy to help workers benefit from GDP gains?

• Reducing corporate taxes

• Expanding the earned income tax credit

• Increasing tariffs on imports

• Subsidizing large corporations

What is a common argument regarding China's entry into the WTO?

• It only benefited Chinese workers.

• It was positive overall but unevenly distributed.

• It was negative for all economies involved.

• It had no impact on the global economy.

What is a suggested way to address inequalities within capitalism?

• Ignoring the issue of inequality

• Implementing stricter trade barriers

• Using existing tools like tax systems and labor laws

• Abolishing capitalism entirely

What is a sentiment shared by some regarding capitalism?

• It is perfect and needs no changes.

• It is irrelevant in modern society.

• It is irredeemable and should be replaced.

• It is only beneficial for the wealthy.