Globalism Hits The GOP

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The Republican Party, in theory at least, has been a defender of free enterprise and markets for many decades. But the rise of the global economy, coupled with open borders and multiculturalism, has reignited old arguments on both free trade and immigration. The emergence of Donald Trump as the GOP presidential nominee and the primary challenge to Paul Ryan show just how badly globalization has shattered the postwar consensus. We take a brief look at the theory of comparative advantage and why people are questioning its applicability to the current economic scene.