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

The book discusses the economic problems we face in the world today, especially in developed countries-the stagnation and decline of household incomes and productivity growth and the growing threat to western political systems. The book 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, whose economic and political system is largely based on Communism despite what the media says. The book shows what liberal economic theory actually says about it-that such trade is inevitably harmful to almost the entirety of the population of developed countries by negatively impacting the supply and demand balance of labor, the incentives for labor-saving technological innovation (the main driver of living standards in history), the global capitalist system for allocation of scarce resources, the normal functioning of all markets in the world, and the bargaining power of consumers and corporations versus China. 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), and inequality.