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Response to Purveyor (Original post)

Thu Mar 10, 2016, 09:35 AM

24. Krugman: "The case for TPP is very, very weak. ... if a progressive makes it to the White House,

he or she should devote no political capital whatsoever to such things."

A Protectionist Moment?

Furthermore, as Mark Kleiman sagely observes, the conventional case for trade liberalization relies on the assertion that the government could redistribute income to ensure that everyone wins ó but we now have an ideology utterly opposed to such redistribution in full control of one party, and with blocking power against anything but a minor move in that direction by the other.

But itís also true that much of the elite defense of globalization is basically dishonest: false claims of inevitability, scare tactics (protectionism causes depressions!), vastly exaggerated claims for the benefits of trade liberalization ... Iíve always been clear that the gains from globalization arenít all that great ... less than 5 percent of world GDP over a generation.

The truth is that if Sanders were to make it to the White House, he would find it very hard to do anything much about globalization ó not because itís technically or economically impossible, but because the moment he looked into actually tearing up existing trade agreements the diplomatic, foreign-policy costs would be overwhelmingly obvious. ... Trump might actually do it, but only as part of a reign of destruction on many fronts.

But it is fair to say that the case for more trade agreements ó including TPP, which hasnít happened yet ó is very, very weak. And if a progressive makes it to the White House, he or she should devote no political capital whatsoever to such things.

http://krugman.blogs.nytimes.com/2016/03/09/a-protectionist-moment/?_r=0

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Arrow 24 replies Author Time Post
Purveyor Mar 2016 OP
silvershadow Mar 2016 #1
Baobab Mar 2016 #17
Dont call me Shirley Mar 2016 #2
Angry Dragon Mar 2016 #9
OneCrazyDiamond Mar 2016 #3
Akicita Mar 2016 #11
MisterP Mar 2016 #4
SoapBox Mar 2016 #5
tularetom Mar 2016 #6
FlatBaroque Mar 2016 #7
earthshine Mar 2016 #8
Angry Dragon Mar 2016 #12
Cavallo Mar 2016 #14
Baobab Mar 2016 #18
chapdrum Mar 2016 #10
earthshine Mar 2016 #15
bemildred Mar 2016 #13
Doctor_J Mar 2016 #16
burrowowl Mar 2016 #19
pampango Mar 2016 #20
JustABozoOnThisBus Mar 2016 #21
sendero Mar 2016 #22
coyote Mar 2016 #23
LineNew Reply Krugman: "The case for TPP is very, very weak. ... if a progressive makes it to the White House,
pampango Mar 2016 #24
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