Economist Paul Krugman, the longtime 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.
The guy is a moron, and the go-to lefty “expert” on economics.
ht/ dd
Facts are a hard taskmaster.
Nobel org and Krugman should dissolve his Nobel.
Nobel org should dissolve.
This guy’s sole argument the past few years has simply been ‘if you disagree with me you’re an idiot.’ Not sure whether he came up with that after Bill Maher or before.
James Taranto pointed out the hypocrisy in a textbook Krugman wrote a couple of decades ago with his current thinking. Which I guess, with his current economic argument, makes him an idiot.
Never let facts get in the way of “The Narrative.”
Krugman, obviously, had a momentary lapse.
An infinitesimal-nano-scintilla of honesty escaped him.
Don’t be hatin on him cuz of it!
izlamo delenda est …
Of course it’s bad for workers. But it’s good for consumers. And it’s also about freedom. Why should some assclown down the street get to tell me i have to buy from him instead of who i want to buy from?
…tearing down the middle class was always the POINT, they want SERFS, not free men…
Isn’t that basically the conclusion PK ought to have made in his book, The World is Flat, a dozen years ago? But failed to do so.
That technology has now forced American workers (or other first world countries workers) to compete with lower wage; tech support from India, or tools made in China, TVs made in S. Korea, insurance claims processed in Ireland, and so on. iow, countries with historically more organized and developed infrastructure no longer hold the high ground with its former competitive advantages over other countries.
“Free trade” is not at all what’s been happening. China’s trade barriers, currency manipulation and theft of billions of dollars in intellectual property has been an economic disaster for us. If he’s such an expert and a professor, how is it he can’t us the English language correctly?
Krugman should have been closed in a cardboard box and dropped into a trash compactor, a long LONG time ago.
I believe Krugman married a leftist harpy who began whipping him into espousing her principals over common sense–thus began his long descent into irrelevance and idiocy, a pit from which he will never climb out.
Gee… Ya think so, Kruggy?… You asshole. That’s probably exactly why he likes globalization.
Is he saying that in some double secret conference (maybe Hillary was the keynote speaker?), en-titled economists stood before banksters and said, “Well if we do this, wages will remain steady. But if we do that, wages will skyrocket.”? And the banksters yelled “Skyrocket!”?
Or maybe the “plan” was something else? Continually adjusted, for decades, to keep on track to something else? Something “completely” unexpected?
Krugman is such a moron – literally. This guy has NEVER been right about ANYTHING. He’s made a career out of spewing leftist nonsense, denigrating his profession, denigrating his diploma and denigrating our country.
He’s as great a paid leftist propagandist as chuck toddler and george stephanopolis.
@Blink
The World is Flat was written by another NYT liberal: Thomas Friedman. I bought it and tried to read it 10 years ago, but couldn’t stomach it. It is now attracting dust in some used book store.
Quisling.
@Tim Buktu – ah, my foolish mistake, however, Paul Krugman and Thomas Friedman both look a lot alike. Maybe that’s because they think a lot alike.