Free Trader Paul Krugman Admits Failure
of Globalization for American Workers:
‘Major Mistake’

Something about rats and sinking ships. What a jerk.

Yep, Workers 'Failed UP'....the jobs they lost to China etc. are BACK...how is that bad? Krugman is a total Leftist SHAM and Bat Stuff Crazy!

'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,” ' You know, Paul, that's not a vindication. That's an indictment. That's exactly why children do not "tinker" with complex systems. Because one is too dumb to know what one does not know. Now extrapolate to every other democrat social experiment. Light bulb?

They may have called it free trade, but it was not.

Globalization, like socialism, looks good on paper. Neither have been executed without it being a catastrophy. Globalism cant work where there are countries that pay a dollar a day in wages. The execution of globalism has been to elevate 3rd world economies at the expense of 1st world economies. Like socialism, everyone ends up equally miserable.

The economic theory espoused by most economists is called 'comparative advantage.' I suppose I should be surprised that the reporter did not mention that, but nothing surprises me, any more, with inadequate reporters and their inadequate reporting. Comparative Advantage is a simple-minde3d and incorrect economic theory that every country, in a free market world, will figure out what it is best at-whether it is manufacturing, mining, other raw materials production, and the like - and through free trade, each country will thrive. The theory is not workable, for a whole bunch of reasons - Krugman would have known that from the beginning.

Is this admission by Krugman a mea culpa offered so that he can walk down the same streets as his peers without being subject to endless hoots, hollers, tossed scat and ridicule? I remember arguing with "progressives" about the effects of trade. When the progressives ran out of pre-printed talking points their final statement was always and stated with a sniff, "Paul Krugman won a Nobel prize for economics. Have you?" Enjoy the derision Paully. You earned it.

Krugman is an idiot. Nothing that he ever predicts actually happens, and he is always wrong. And he does NOT care about ordinary Americans like President Trump does.

It is inexcusable that someone with a PhD in Economics couldn't foresee that companies would offshore their work to low-wage countries and eliminate higher-paying U.S. jobs. That's a concept from introductory Economics.

Note to Paul: There is no such thing as free trade. The value of labor in any nation is dependent on the legal and political landscape. I'll keep it simple so even Krugman could follow: If you have "free trade" with a slave economy the market value of your labor drops to that of slaves. Some of us don't consider that a comparative advantage and would chose to do better for Americans. Explain how European manufacturing can survive competition with the US? With summers off and 35 hour work weeks they survive faced with competition from Americans working 50 hour weeks and not even taking their meager two weeks of vacation? Tell me what they do better so that we might learn from them? Guess what, free marketeers (I wish I could be one by the way) I have been there, worked for European and Asian manufacturing traded with them, shared best practices and it's not the American worker who can't compete. It's the American government standing by watching us bleed out. They have let us down and they have grown rich in the process. Draw yiour own conclusions. And some people are still mystified that we voted for Trump. Must be just knuckle dragging hating racist misogynist Nazi's it just has to be.

Most of the article is a detailed examination of the failure of economists to look at the real world. Rapidly expanding world trade has been a great boon to the largest segment of the US population -- one that is completely ignored by economists. This is the segment that buys cheap goods. Over the past decades, there has a been vast improvement in the real lives of poor people when measured in real terms; ie what poor people have and what they don't have. In material terms, poor people now have decent housing with adequate space, well equipped kitchen, nice amenities, good clothes, plenty of food and personal possessions. When measured by deprivation, we now scarcely have any poor people in America. Global trade enables poor people to have all sorts of household appliances and electronic goods. Economists are motivated to attack all right-wing thinking. Thus their obsession with "inequality" which dominates their thinking over the elimination of poverty.

Propagandist krapman gets paid to help sell the big schemes; he’s the guy in the lab coat in the laxative commercials. Now that the diarrhea is killing you he’s here to tell you how sorry he is and wants to sell you ipecacuanha.

So, in the 2016 campaign for POTUS, neither Hillary or Bernie were touting a strong economy, but they wanted to continue the globalization policies that even Krugman is now saying isn't good for America's middle class workers. Only Trump was talking about ways to Make America Great Again, and he's been following through since he took office. Reducing the excessive regulations that were strangling U.S. businesses, reducing taxes and negotiating better trade deals.

Globalization is based on Libertarian theory. Problem is most libertarian policies get enacted unilaterally. Free trade was only done by the US. But China, Mexico, and even Canada have never practiced free and open trade with the US. Another example of unilateral Libertarian policy is legalizing drugs. They say we make drugs legal but we don't give welfare or any benefits to those who fail because of drug use. Just drug rehabilitation. OK, but legalizing drugs is the easy part. Getting people to agree to no welfare to poor people on drugs is the hard part that will never get done. So once again they are getting the cart before the horse.

Kissing up to The Donald, Paul? Trying to get an interview? Get lost. What tipped you off, Paul? All the anti-American Communists jumping on the globalization bandwagon intent on screwing over America? Or was it all the corrupt corporations wanting slave labor just so they could boost their profit margins without passing along any of the windfall to the consumer? Where have you been?