Oren Cass (“America’s elite misinterprets the public’s grievances”, Opinion, January 12) has finally educated the American elite on the American working and middle classes’ discontent with globalisation.
Entire small cities and towns became significantly poorer when major manufacturing plants closed, union jobs were lost forever and cheaper prices at Walmart did not compensate for the loss. Corporations betrayed all American stakeholders except the equity shareholders by following the advice of Milton Friedman. Corporate executives became billionaires or at least multimillionaires. Shareholders enjoyed massive profits. Corporate lobbyists and political contributions allowed deindustrialisation to occur under both party administrations. It took over 25 years for most Americans to understand the betrayal and register their disapproval at the ballot box.
Michael Stoltz
Fort Worth, TX, US