U.S. Workers Pay a High Price for Free Trade

China has upended the idea that free trade is ultimately best for everybody. BUt now its momentum is slacking, which is good news for U.S. workers.

When I was in business school, way back at the turn of the millennium, one of the things we learned was that labor always got about two-thirds of national income, with the other third going to capital. That percentage might fluctuate, as the economy waxed and waned, but it was basically steady.

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