For a long time many believed that there would be an automatic adjustment and counted on a rapid increase in the wages of the emerging nations, on our advances in technology and the costs of transport preventing disruption. But this reassuring analysis is out of date.
The reality is we talk a lot about it, but we really don't give everyone an opportunity to buy into it, and this combines both the best of Republican and Democratic ideals.
We're living under the illusion that we have the power to determine what to do with it.