Highly unequal wages and prices (disequilibria) cannot persist when labor and goods are mobile; trade and migration drive wages and prices toward equilibrium across countries, which is the mechanism trade harnesses and tariffs impede.
causalpending
Speaker
Howard MarksEvidence Quote
“Highly unequal wages and prices... can't persist if things like labor and goods are mobile. That's trade at work.”
Created: 6/18/2026, 2:18:14 PM
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