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What is the alternative?

January 18, 2004

If Paul Craig Roberts is right about capital flight in a globalized world being devastating to the American standard of living and quite beneficial to Asian nations (which is not a position I'm entirely convinced of yet), then I'd like to hear his thoughts about "how best to recreate the conditions under which free trade produces shared gains."  It would seem to me that draconian measures would be required to make capital immobile, and these efforts would likely fail to maintain American well-being.  What does Mr. Roberts have in mind?



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