Top Biden Donor: ‘Manufacturing Is a Fetish for Keeping White Males with Low Education in Powerful Positions’

An influential donor to Democrat President Joe Biden has claimed that the idea of preserving domestic manufacturing is a “fetish.”

Top Washington D.C. think tank head and Democratic Party financier Adam Posen argues that people oppose offshoring because they want to keep “white males with low education in the powerful positions.”

Posen made the comments during a panel discussion at the Cato Institute event on Thursday.

Independent journalist Matt Stoller slammed Posen over his remarks about domestic manufacturing.

“Another astonishing clip from the Cato Institute event today, this one from the influential Adam Posen, head of the Peterson Institute,” Stoller said.

“He says a focus on domestic manufacturing is simply a “fetish for keeping white males with low education in the powerful positions they are in.”

In the clip below Posen says: “I am gonna piss off both the Left and the city. So I apologize.

“That the fetish for manufacturing is part of a general fetish for keeping white males of low education outside the cities in the powerful positions they are in the USA.

“That is really what’s going on here because when you look at the cost of manufacturing…”

Slay the latest News for free!

We don’t spam! Read our privacy policy for more info.

Stoller said: “I can’t think of a better recipe for inducing racial tension than having D.C. elites financed by Wall Street pushing offshoring and then saying that anyone who opposes having their community and livelihood destroyed is racist.”

Rana Foroohar, a reporter with FT, also weighed in a Posen’s remarks, saying:

“It’s stunning how out of touch most economists are with how business actually works.

“Or in this case, geopolitics.

“If you are a country today with no ability to make crucial goods or access them from allied nations, God help you.”

Stoller said: “This is such an important point.

“Being able to make things is essential for a society to survive.

“Much of the political world has moved on from the contempt for manufacturing, which is why Posen attacked both Biden and Trump.

“But these ideas are so bad.”

If that sounds bad it gets worse for the ivory tower crowd, Posen is wrong.

“Aside from immensely offensive, it’s not correct,” Stoller said.

Daniel Rangel said:

“Hard to believe but @AdamPosen in an event at #CatoEcon is saying that folks that care about manufacturing jobs have a white macho fetiche… really!

“Putting aside how egregious is to hear this from a notorious white guy, a short thread with some facts.

“@WSpriggs and his team ECONOMETRICALLY showed that the decimation of US manufacturing caused by the China trade shock increased racial inequality considering the change in the share of Black employment and Black hire rate in the most affected areas.

“Last year, while at @Public_Citizen, we did some calculations and found that Black and Latino workers were disproportionately represented in nine out of the 10 manufacturing industries that were hit hardest by import competition.

“Millions of workers in these sectors lost their jobs. Plus, in these industries, where again a disproportionate number of Latinos and African Americans worked, wages remained basically stagnant during the last 3 decades. Sectors less exposed to trade had slight wage gains.

“I have heard a lot of arguments to attack the intention to craft a renewed trade policy that contributes to widely distributing opportunities of economic prosperity in the US and abroad but associating it to a white macho fetiche is just desperate.”

You can see Posen’s donations to Biden here.

Share this:

join telegram

READERS' POLL

Who is the best president?

By completing this poll, you gain access to our free newsletter. Unsubscribe at any time.

By David Hawkins

David Hawkins is a writer who specializes in political commentary and world affairs. He's been writing professionally since 2014.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x