My fellow economists and academics fail to understand the economics of trade in the real world. Traditional models of academia respect free trade without considering whether it is fair trade.

Likewise, free trade does not, as evidenced in CAFTA, mean fair trade.

I'm not opposed to free trade if it's fair trade. But I am opposed to bad trade deals.

I opposed the World Trade Organization.

I'm interested in the real world.

The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years.