First off: two more of my inequality primers are now free at the Stone Center web site. The list so far:Why did the rich pull away from the rest. The importance of worker powerA Trumpian diversionOligarchs and the rise of mega-fortunesNow, on to current events.
The importance of worker powerA Trumpian diversionOligarchs and the rise of mega-fortunesNow, on to current events. Trump has now announced a trade "deal" with the European Union that looks a lot like the "deal" he made with Japan. I use scare quotes because there is little sign of a quid pro quo.
I use scare quotes because there is little sign of a quid pro quo. The United States is imposing a 15 percent tariff that is lower than previously threatened, but still vastly higher than we had before Trump. tariffs seem likely to settle roughly at the level that prevailed after the infamous Smoot-Hawley tariff of 1930.