The assertion that everyone benefits simultaneously from free trade is simply incorrect.
Kenneth RogoffThere has been a noticeable decline in the labor factor in all wealthy countries in the past 20 years. The rich are getting richer, but those at the lower end aren't moving ahead as quickly as the capitalists.
Kenneth RogoffI tell my children that a man like Bill Gates has a personal fortune of $100 billion. They can't even comprehend that. Then I explain that he has more money than some countries.
Kenneth RogoffThe problem - at least in the United States - is not that people can't find jobs. The problem is that they're no longer finding jobs that provide them with dignity and decent social status.
Kenneth Rogoff