American populists are ascendant … and I’m worried.
The Wall Street Journal recently reporter that Republicans are now opposed to free trade by a 2-1 margin. On the question “Is foreign trade good or bad for the U.S. economy?,” 59% of Republicans said it was bad while only 32% said it was good. When Republicans are jumping ship on free trade, this means that probably 3/4 of the country thinks it is bad. I recently saw a poll that said that for the first time in history, the majority of Americans that make over $100k/year are against free trade.