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Thanks, but these citations don't at all support the GP's sweeping assertion that "Krugman recently came out and said almost all of his advice about globalism w

Thanks, but these citations don't at all support the GP's sweeping assertion that "Krugman recently came out and said almost all of his advice about globalism was wrong. The man can't be trusted." Krugman's cited gc.cuny.edu paper is titled, "Globalization: What Did We Miss?" It concludes, not that economists were wrong per se, but that they didn't adequately take into account the pace of globalization: "Basically, the big problem with surging globalization wasn’t so much changing demand for broadly defined factors of production as the disruption caused by rapid change. And that rapid change appears to be largely behind us ...." (Emphasis added.) The summary in the University of Melbourne piece (the third cite) is to basically the same effect. (I don't have time to watch a one-hour YouTube video, but thanks for the link.)

throw0101a 6y ago
> Thanks, but these citations don't at all support the GP's sweeping assertion that Agreed, it was hyperbolic. But it was a correction nonetheless, and IMHO it should be noted as form of intellectual honesty.
Railsify 6y ago
"wrong per se", do you really want to bicker over the meaning of wrong. It was his advice/predictions/theory (call it what you want), that when followed turned out vastly different than predicted, that is wrong in my opinion. Look how many years it took him to come out and say "the pace" was not adequately (incorrectly) taken into account. He was even awarded the 2008 Nobel Prize in Economics and 1.4 million dollars for this theory that played a large part in tearing apart the middle class. My comment was indeed too hyperbolic but basically true. A mistake that affected our country so negatively cannot be forgotten or forgiven.
- dctoedt 6y ago
  > A mistake that affected our country so negatively cannot be forgotten or forgiven. Sounds like 20-20 hindsight to me. Predicting the future is hard; making important societal policy choices based on those predictions, likewise.

throw0101a 6y ago

> Thanks, but these citations don't at all support the GP's sweeping assertion that Agreed, it was hyperbolic. But it was a correction nonetheless, and IMHO it should be noted as form of intellectual honesty.

Railsify 6y ago

"wrong per se", do you really want to bicker over the meaning of wrong. It was his advice/predictions/theory (call it what you want), that when followed turned out vastly different than predicted, that is wrong in my opinion. Look how many years it took him to come out and say "the pace" was not adequately (incorrectly) taken into account. He was even awarded the 2008 Nobel Prize in Economics and 1.4 million dollars for this theory that played a large part in tearing apart the middle class. My comment was indeed too hyperbolic but basically true. A mistake that affected our country so negatively cannot be forgotten or forgiven.

dctoedt 6y ago
> A mistake that affected our country so negatively cannot be forgotten or forgiven. Sounds like 20-20 hindsight to me. Predicting the future is hard; making important societal policy choices based on those predictions, likewise.