Lots of people support agricultural subsidies. Too many for a collective action story to explain the support away.
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Two economists find that trade theory gets wage inequality wrong.
While designed and marketed in Cupertino, California, the iPhone is estimated to have contributed $1.9 billion to the U.S. trade deficit with China in 2009. This is the finding of Yuqing Xing and Neal Detert, two economists with the Asian Development Bank Institute.