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Outside hardline libertarian and establishment wall street circles, no serious intelectualls fell for the new free trade religion. Seeing Krugman admit as much
by markmet433 7y ago
Outside hardline libertarian and establishment wall street circles, no serious intelectualls fell for the new free trade religion. Seeing Krugman admit as much in order to preserve a shred of credibility is a good sign. Dont be confused though, Krugman is stil a hack intellectual for hire.
- tr3ndyBEAR 7y agoThe establishment of both major US policies have been pretty staunchly neoliberal and pro free trade up until recently. I don't think it's fair to say "no one fell for it"
- naravara 7y agoThat was largely driven by bankers and the finance industry moreso than academic economists. It's all about incentives.
- qnsi 7y agoYou are mistaken. It was and I think still is a consensus among economists. For example: https://people.uwec.edu/jamelsem/fte/fte/efl/teacher_stuff/articles/economists_agree.pdf https://people.uwec.edu/jamelsem/fte/fte/efl/teacher_stuff/a...
- not_a_cop75 7y agoKrugman is basically the economist's version of a whore. There is no decently left there - only room to claim new things for huge wads of cash.