Death of the Middle Class + Secular Economic Stagnation = How Trade with Communist China Is Destroying Democracy & Capitalism

How Liberal Economic Theory Has Been Misrepresented to Justify Trade with a Communist Country, and How to Save Our Way of Life Before It Goes the Way of the Soviet Union

by Mark Jeia

Formats

Hardcover

$27.45

Softcover

$15.18

E-Book

$4.99

Hardcover

$27.45

Book Details

Language : English

Publication Date : 1/26/2017

Format : Hardcover

Dimensions : 6x9

Page Count : 126

ISBN : 9781524676797

Format : Softcover

Dimensions : 6x9

Page Count : 126

ISBN : 9781524676780

Format : E-Book

Dimensions : N/A

Page Count : 126

ISBN : 9781524676803

About the Book

“A rousing call to halt trade with China and reinvigorate truly liberal economic trade policy… a complex argument shorn of hypertechnical language, composed in a breezy, informal style” –Kirkus Review “Concise, reasonable and clear exploration of one of today’s most pressing political and economic issues: international trade… unblemished by jargon characteristic of tomes proclaiming a complex economic theory” –Blue Ink Review “Despite the hefty subject matter, Death of the Middle Class is solidly written and is easy to follow, forgoing most economic jargon.” –Clarion Review The book discusses the economic problems we face in the world today, especially in developed countries, and the growing threat to western political systems. It clarifies how the established framework of liberal economics has been misrepresented to justify free trade and immigration with a large, low-wage country such as China. And it shows what liberal economic theory actually says about it – how it impacts the supply and demand balance of labour, the incentives for labour-saving technological innovation (the main driver of living standards in history), the global capitalist system for allocation of scarce resources and the normal functioning of all markets in the world. Finally, the book examines some alternative explanations and policies that have been advanced, and explains how they are at best a dangerous distraction and at worst harmful. Government spending. Monetary policy –interest rates and “QE”. “Reforms”. The role of technology. Demographics – people getting older. Inequality.

About the Author

Mark Jeia have spent many years studying finance and economics to postgraduate level. He has also worked in financial markets for several years, both in investment banks and in investment management. Over the course of his life and career, he had the opportunity to live and work in many different cities, and in many different countries.

When you are on the front lines of today’s financial markets, you have access to a dedicated news service. This allows you to receive real-time news about relevant events as they happen.

Over the past few years, like almost all of us, he have seen the world economy slowly descend into a fast-paced hell, and then a slow-motion train crash, on my screen, in real time. And he have seen the world’s dominant policymakers fumbling around.

Having realized how the general academic and media debate around these problems has been seriously delaying their resolution, he have decided to offer a plain-speaking, succinct diagnosis and solution of something that many see but of which few have the courage to speak out.

Editorial Reviews

A debut book offers a rousing call to halt trade with China and reinvigorate truly liberal economic trade policy.

Economic experts seem to broadly agree that inequality is in an alarming ascendancy and that the global middle class is worryingly pinched. Jeia begins his work with a grim diagnosis of the problem: living standards are in a steady decline ; decent middle-class jobs are rapidly disappearing and with them sustainable wages ; and the manufacturing industry in the U.S. is hobbled. Politically' this has led to a historic rise in polarizing partisanship and a general loss of trust in government. The principal problem' the author argues' is the economic hegemony of China. Despite what many contend' trade with China has had pernicious effects on the global economy. First' China's introduction of a massive workforce of cheap labor has generally lowered wages for the rest of the world' a result conventional liberal economic theory predicted.

asiarebusit
In addition' the existence of so much low-cost labor stymies innovation since it undermines the incentive for new technology or new job training. Furthermore' China functions as a Soviet-style monopoly' and its continued growth necessarily comes at the expense of the rest of the global market' which essentially compensates the nation for its systemic inefficiencies. Jeia offers a number of potential solutions' which include what he calls "labour differential tariffs'" specifically targeted to level the competitive playing field by penalizing those countries that maintain artificially low wages. But even this is not enough: "Therefore' the only real solution to the problems currently affecting the global economy is to completely remove China from the global trading system' as was done with the Soviet Union."

asiarebusit
Jeia presents a complex argument shorn of hypertechnical language' composed in a breezy' informal style. Sometimes' the tone turns too strident' especially when he criticizes what he interprets as a departure from free market liberalism: "Remember' 'comrade'?" But while it's common to pillory China for currency manipulation' it's comparatively rare for an economist to focus on the long-term impact the country has had on the international labor market. This is a short book and not by any stretch comprehensive' but it functions as a provocative catalyst to a new conversation.

asiarebusit
A brief but thoughtful introduction to global trade and its discontents.

KIRKUS REVIEW

asiarebusit
A debut book offers a rousing call to halt trade with China and reinvigorate truly liberal economic trade policy.

Economic experts seem to broadly agree that inequality is in an alarming ascendancy and that the global middle class is worryingly pinched. Jeia begins his work with a grim diagnosis of the problem: living standards are in a steady decline ; decent middle-class jobs are rapidly disappearing and with them sustainable wages ; and the manufacturing industry in the U.S. is hobbled. Politically' this has led to a historic rise in polarizing partisanship and a general loss of trust in government. The principal problem' the author argues' is the economic hegemony of China.

asiarebusit
Despite what many contend' trade with China has had pernicious effects on the global economy. First' China's introduction of a massive workforce of cheap labor has generally lowered wages for the rest of the world' a result conventional liberal economic theory predicted. In addition' the existence of so much low-cost labor stymies innovation since it undermines the incentive for new technology or new job training. Furthermore' China functions as a Soviet-style monopoly' and its continued growth necessarily comes at the expense of the rest of the global market' which essentially compensates the nation for its systemic inefficiencies. Jeia offers a number of potential solutions' which include what he calls "labour differential tariffs'" specifically targeted to level the competitive playing field by penalizing those countries that maintain artificially low wages.

asiarebusit
But even this is not enough: "Therefore' the only real solution to the problems currently affecting the global economy is to completely remove China from the global trading system' as was done with the Soviet Union."Jeia presents a complex argument shorn of hypertechnical language' composed in a breezy' informal style. Sometimes' the tone turns too strident' especially when he criticizes what he interprets as a departure from free market liberalism: "Remember' 'comrade'?" But while it's common to pillory China for currency manipulation' it's comparatively rare for an economist to focus on the long-term impact the country has had on the international labor market. This is a short book and not by any stretch comprehensive' but it functions as a provocative catalyst to a new conversation.

asiarebusit
A brief but thoughtful introduction to global trade and its discontents.

KIRKUS REVIEW

asiarebusit
A debut book offers a rousing call to halt trade with China and reinvigorate truly liberal economic trade policy.

Economic experts seem to broadly agree that inequality is in an alarming ascendancy and that the global middle class is worryingly pinched. Jeia begins his work with a grim diagnosis of the problem: living standards are in a steady decline ; decent middle-class jobs are rapidly disappearing and with them sustainable wages ; and the manufacturing industry in the U.S. is hobbled. Politically' this has led to a historic rise in polarizing partisanship and a general loss of trust in government. The principal problem' the author argues' is the economic hegemony of China. Despite what many contend' trade with China has had pernicious effects on the global economy. First' China's introduction of a massive workforce of cheap labor has generally lowered wages for the rest of the world' a result conventional liberal economic theory predicted.

asiarebusit
In addition' the existence of so much low-cost labor stymies innovation since it undermines the incentive for new technology or new job training. Furthermore' China functions as a Soviet-style monopoly' and its continued growth necessarily comes at the expense of the rest of the global market' which essentially compensates the nation for its systemic inefficiencies. Jeia offers a number of potential solutions' which include what he calls "labour differential tariffs'" specifically targeted to level the competitive playing field by penalizing those countries that maintain artificially low wages. But even this is not enough : "Therefore' the only real solution to the problems currently affecting the global economy is to completely remove China from the global trading system' as was done with the Soviet Union." Jeia presents a complex argument shorn of hypertechnical language' composed in a breezy' informal style. Sometimes' the tone turns too strident' especially when he criticizes what he interprets as a departure from free market liberalism: "Remember' 'comrade'?" But while it's common to pillory China for currency manipulation' it's comparatively rare for an economist to focus on the long-term impact the country has had on the international labor market. This is a short book and not by any stretch comprehensive' but it functions as a provocative catalyst to a new conversation.

asiarebusit
A brief but thoughtful introduction to global trade and its discontents.

KIRKUS REVIEW

asiarebusit

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