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Hanging out for a banana? : Comments
By Mirko Bagaric, published 28/6/2006Bananas are just one example that highlights the unfairness of global trade.
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In Australia we have reduced protectionism sharply over the past 15-20 years (pockets of banana protectionsim notwithstanding). Currently we also have the lowest unemployment rate since the 1970s (including a sharp decline in long-term unemployment), and the highest ever proportion of the adult population in work. Real wages are rising.
Workers are better off in a competitive and dynamic economy than a protected and static one, and most smart union leaders understand this.