Republican presidential candidates are falling over themselves pandering to a right-wing activist base that dominates party primaries – exemplified by Scott Walker advocating a northern border wall. Though he quit, so maybe that out-crazied the party’s crazy wing.
The Democratic party has likewise been captured by a left-wing activist base, which explains Hillary Clinton’s disgraceful attack on President Obama’s TPP (Pacific nation trade deal), even though she advocated the concept while Secretary of State. It’s one of the few really good things Obama has achieved. That a big trade deal could be concluded at all in today’s complicated world is almost a miracle. Failure to approve it would be yet another blow to America’s tattered international credibility, while China’s role is growing. Recall how our friends all ignored Obama’s plea to shun China’s new regional development bank.
And it’s a good deal for America – the benefits to our consumers through lower prices on imports will vastly outweigh any jobs lost – and that furthermore will stimulate more spending on other things, creating new jobs, making up for the ones lost. It’s good for the world too, making people in other countries more prosperous. A more prosperous world, with wealthier trading partners, is also obviously good for America.
But none of this registers with the anti-trade – frankly, anti-market – anti-economic-growth – Democratic left wing which Hillary feels she must coddle. At one time it was actually the Republicans who were the protectionists, while Democrats were for free trade, recognizing that protectionism was a scam to protect businesses from economic competition, and free trade benefited the broader public. Democrats’ newfound hostility to trade trashes the good of the many for the interests of a few. How did they get their heads so far up their rears on this issue?
Hillary, trying to justifying her betrayal on the TPP, claimed its provisions are too cushy for pharmaceutical companies. Funny that when the deal was announced, pharmaceutical stocks plunged because those companies were seen to be screwed.