Economist Paul Krugman, the longtime DemonRAT defender of global free trade and a member of the failed “Never Trump” movement, now admits that globalization has failed American workers.
In a column for Bloomberg titled “What Economists (Including Me) Got Wrong About Globalization,” Krugman admits that the economic consensus for free trade that has prevailed for decades has failed to recognize how globalization has skyrocketed inequality for America’s working and middle class workers.
Krugman, though, writes that he and his fellow free trade economists “had no way to know” that globalization of the American economy or a surge in trade deficits “were going to happen,” though the anti-globalization movement had warned for years of the harmful impact free trade would have on U.S. workers — including Donald Trump.
(Excerpt) Read more at breitbart.com ...
<< “there was no way to know” - Krugman >>
Yeah Paul, who could’ve possibly foreseen that open borders and massive trade/tariff disparities (with the U.S. always getting the short end of the stick) and the outsourcing of millions of American jobs could’ve led to massive trade deficits and the ...loss of millions of American jobs? Hmmm...
In a column for Bloomberg titled “What Economists (Including Me) Got Wrong About Globalization,” Krugman admits that the economic consensus for free trade that has prevailed for decades has failed to recognize how globalization has skyrocketed inequality for America’s working and middle class workers.
Krugman, though, writes that he and his fellow free trade economists “had no way to know” that globalization of the American economy or a surge in trade deficits “were going to happen,” though the anti-globalization movement had warned for years of the harmful impact free trade would have on U.S. workers — including Donald Trump.
(Excerpt) Read more at breitbart.com ...
<< “there was no way to know” - Krugman >>
Yeah Paul, who could’ve possibly foreseen that open borders and massive trade/tariff disparities (with the U.S. always getting the short end of the stick) and the outsourcing of millions of American jobs could’ve led to massive trade deficits and the ...loss of millions of American jobs? Hmmm...