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

[Amimnoch]

90. I'll probably be roasted here, but I feel globalization is great, but has been horribly mishandled.

There are a lot of great benefits to a global market.
On a global scale, globalized economies reduce overall world poverty.
Impact from market crashes, and down trends as a result of catastrophes (natural or man made) can be reduced.
Economies that are interdependent on each other are less likely to wage war on each other.
Overall costs of goods go down as a result of increased competition.

As a few examples, where would the auto industry be today without the agreements with Japanese manufacturers? That market DESTROYED a TON of auto manufacturing jobs here, but everyone.. in the world.. who has a car has benefited. Japanese innovation has driven technological advances, gas efficiency (US and European car manufactures from before the 80's was NOT at all focused on gas efficiency, cost efficiency, or technological innovation).

Anyone remember the 80's? China was a completely closed off economy, and the "red thread" was much higher than it is now. The Chinese economy has grown into its own world power status. Their cities are bustling, and the more they have opened their market the more their people have benefited.
Sea ports have grown tremendously creating a ton of new jobs both at the ports, manufacturing the ships that transport goods, operating the ships that transport the goods, and maintenance positions to maintain the ships/shipyard/port equipment that are required to keep these transports running.

That's the rosy picture.

The biggest failure we have made with it is not doing anything to prepare for these deals and take care of the people here at home that these deals adversely affect. Where were the programs to help those who lost their jobs in manufacturing transit to the new jobs being created with preference? As product and product parts workforce's were reduced, where were the programs to get them cross-trained to the new jobs with government incentives to hire them on? Government assistance with training? Government assistance with relocation? Where was the government assistance in getting alternative markets to come into areas that were destroyed by these agreements to provide new and comparable employment opportunities? This is where they failed, and the establishment wouldn't be getting the push back they are now if they'd handled their business in a responsible way.

IMO.. Hillary has it wrong about accepting TPP. Bernie has it wrong about wanting to just block TPP.

Put TPP on hold. Get a comprehensive impact to labor analysis by an independent and sympathetic group. Tie a comprehensive relocation, education, enhanced and extended unemployment plan for any affected by reductions and corporate reach out (incentive package for alternative businesses to provide comparable employment/benefits to displaced workers) to the bill that approves TPP.

I also think we're quickly reaching a time where the entire economic model needs to be completely reexamined. Since the beginning of civilization, people have been measured by their "value" as a contributor and material holdings. From the Neolithic revolution where a person who had the most crops, or the most goats was the most influential to today's global market barons humans have placed status, and privilege on these people. Since that time though, there has been an almost constant progression of invention and innovation to reduce the number of people it takes to make the products that make the civilizations. With today's automation and the extremely fast advances of technology, even without globalization, Corporations are making the things we buy with fewer.. and fewer.. and fewer people. There are machines to even build the machines now. 3D Printing.. automation.. robotics.. computers designing the next generations of computers.. etc.. Information at a few strokes of a keyboard that wasn't available to the most proficient of researchers with access to the best libraries just a couple of decades ago.. It's time to start steering away from the entire model of those with the most deserve the most respect and privilege. We need to start working towards the mentality that it's okay to have jobless people in society. Why does everyone HAVE to have a job in this day? What's so bad about someone who's been injured on the job enjoying a comfortable life, with shelter.. with transportation access.. with electricity and food? Why is there a fucking stupid law being passed that wants to deny people on food stamps access to steak or lobster (Like they REALLY could afford it in the first place, but I digress)..

Also, don't mistake this long winded rant of opinions as a 100% endorsement of Capitalism either. Overall, I think Capitalism has been one of the more successful models, but the US, like most, seems hellbent on picking a model and sticking with it. Why not evaluate all areas of the market and adjust each area with a critical eye, and pick the model that produces the best results for the most people??

For example (and more of my own opinion):
Technology, engineering, architecture, manufacturing.. I think these work best with the capitalist model. Continued regulation to ensure fair and public beneficial practices.

Financial markets - socialize the hell out of them. I LOVE Bernie's idea of implementing banking services at post offices. Using money.. to make money.. since the dawn of time this model has produced nothing but abuse.

Oil/gas/energy - Socialize completely. Regulate prices. Expand BSEE to have their people on every facility, and having the final OBJECTIVE word on operations. I'd recommend we move, not in the direction of Venezuela, but in the direction of Argentina as a model. They never suffered from high gas prices due to their method of price fixing, nor did they suffer shortages. They also aren't losing tons of jobs in their gas sector as a result of the market downturn.

The combined focus needs to be on what is best for the people of the US, with focus on what do those with the least have access to, and on the global market and what our policies can do to make the WORLD a better place.