Jeff Madrick’s Misplaced Criticism of Free Trade on Feed 44

C4SS Feed 44 presents Kevin Carson‘s “Jeff Madrick’s Misplaced Criticism of Free Trade” read by Christopher B. King and edited by Nick Ford.

The centerpiece of the neoliberal agenda is not “free trade” — that is, voluntary exchange of goods and services in which all parties operate on their own nickel and nobody has access to coercive power to set the rules in their favor — but the age-old ruling class agenda of “privatization” (enclosure) of the commons as a source of rents. The increased volume of international trade under the neoliberal policy regime results from direct state subsidies to long-distance trade and state intervention to reduce the transaction costs of trade — in both cases socializing the operating costs of transnational corporations.

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