Krugman Raises White Flag on Trade, admits his “free-trade” cheerleading was mostly garbage

[Peace Patriot]

67. Why isn't it called FAIR Trade?

Because "Free Trade" is, and always has been, the same thing as plunder.

And it has never been "free." It was monopolies plundering everybody when the British Empire did it. It is monopolies plundering everybody now that our oligarchs are doing it. And both backed by military power.

Free Trade: plunder.
Fair Trade: a decent deal for everyone.


Ieoeja writes (above):

The closest (Krugman) came to disavowing his own argument was admitting that free trade was gamed to create outsized inequality in the results of free trade. He said globalization itself is still a good idea. Krugman wrote that it was in the way it was handled. --my emphasis

Now I ask you: WHO was "handling" it? Paul? You there? WHO was "handling" it and ensuring that it would create "outsized inequality"? Who started it, big time? Who set it up? Who betrayed workers and the environment in every negotiation? Who sold away our sovereignty over our own laws? WHO?

But this "it"--"Free Trade"--is badly misnamed. It should be called "Free trade for the rich." And the reason it isn't called "Fair Trade" is that it ISN'T fair, in any way. "Free Trade" is, inherently, by definition, monopolistic, violent plunder, designed to make the rich into the uber-rich, who know no rules and no laws.

That is exactly what it has done. That is exactly what was intended.

Myself? I love a marketplace. I think that love of the variety of goods and people in a true marketplace is in our DNA. We would be deprived and impoverished, deep in our souls, without the fun, and creativity, and human interaction of the Marketplace. I love trade. All indigenous people love trade. I love small, local businesses that provide good, personal service and support their communities.

I also think capitalism is a necessity--pooling funds for projects of general benefit--but the predatory capitalism that we see now is the antithesis of general benefit. It assaults the common good everywhere, here and in other countries. And our economy badly, BADLY needs to be re-balanced with a strong measure of socialism and care for the common good, because what we are heading for--and what we already saw a harbinger of in 2008--is chaos--no economy at all, just predators and the preyed upon.

"In the way it was handled," my ass! The Clintons are thriving among the predators because they created a predator-friendly economy and called it "free." At least with Reagan, we all knew what "trickle down" meant. But the Clintons went further and created the Big Lie to cover all that "free stuff" for the very rich.