Republicans oppose free trade?


I was speechless when I saw this story in The Wall Street Journal (subscription required):

By a nearly two-to-one margin, Republican voters believe free trade is bad for the U.S. economy, a shift in opinion that mirrors Democratic views and suggests trade deals could face high hurdles under a new president.

What is interesting is that economists are, with few exceptions, unanimous in their belief that free trade is, in aggregate, a good thing. One of the overriding principles of economics is that "voluntary trade creates wealth".

While there's some obvious headline shock that can partly explain this shift, I have to wonder: Is part of the problem that most Americans are just poorly-versed in economics, and lack the tools to form rational opinions about issues like free trade?

Having discussed issues like this with a number of college students, I suspect that is the case. One organization is looking to change that. The Foundation for Teaching Economics holds training programs for students and teachers, and provides resources for schools looking to offer instruction in economics.

If you're a parent or teacher, bring up the meeting with your local high school (or junior high school's administration). The lack of financial literacy could lead to some seriously bad policy decisions brought about by ignorance.

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