Ever since the first power looms put weavers out of work in the late 18th century, technology has increased productivity but threatened jobs for humans.

The fact is that during the post-1989 heyday of globalization optimism, political and business elites did not think enough about the prospect - plainly predicted in economic theory - that trade would harm some people even while leaving society as a whole better off. The result was overpromised benefits and inadequate adjustment plans.

The factory work that lifted millions out of poverty in places like China and Vietnam probably did cost some workers in North Carolina and Wallonia their jobs.

Arancha Gonzalez Quotes