OPTION #1: RIGHT-WING NEOLIBERALISM: Cut regulations and taxes and enter into as many free trade agreements as possible. This will result in lower prices for American consumers and higher profits for American companies, which will then increase investment, which will lead to higher productivity, which will ultimately lead to higher wages. Strengthening the safety net and compensating workers for the impacts of globalization is a mistake, because it gets the incentives all wrong; we should be rewarding winners, not losers.
OPTION #2: LEFT-WING NEOLIBERALISM: The same as #1, except that workers need to be fairly compensated for the negative impacts created by globalization and technological change through an expansion of the safety net. This keeps the efficiencies (and the low prices) in #1 but prevents political backlash against the system.
OPTION #3: IMPORT SUBSTITUTION: Wall off America with tariffs, thereby encouraging the revival of dying or dead industries. Deport illegal immigrants and create labor shortages. Wages will rise as a result.
Option #3 is supported by reactionaries who want the Godly Society and are willing to overlook the inevitable undesirable results–higher prices, uncompetitive businesses, and reduced exports. Option #1 is essentially the status quo–a wealthy but highly unequal society with a declining middle class (i.e., the dollar store economy). Option #2 has only been tried to a very limited extent–Obamacare being the obvious example–because business interests and the GOP prefer Option #1 and have the McConnell Project operating in their favor.
The Trump team contains supporters of both Option #1 and Option #3; it remains to be seen which path the man on golf cart ultimately prefers. The tragedy of Option #2 is that it has been lumped in with Option #1 in the eyes of the public even though the blue team has never been able to implement it due to GOP and business opposition. As a result, the Democrats have been accused of being indifferent to the plight of workers, which is as far from the case as it can get; what they want is the benefits of globalization and technological change without their negative impacts.