It has been vintage Obama on the President’s final overseas trip this week. Speaking in Greece, he announced that the process of globalization needs a “course correction” because the benefits aren’t being spread broadly.
Well, maybe, but this is a little much to hear from the man who has been nominally the leader of the globalizing world’s course for eight years. The President spent his years stressing income redistribution over economic growth, and the result has been less growth and more inequality. That’s a major reason for the West’s political anxiety over foreign trade and immigration. Those anxieties were muted in the booming 1980s and 1990s.
