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Good article by paul krugman: https://outline.com/FTZ8eN https://outline.com/FTZ8eN Basically in the article he outlines what the economists didn't get right a
by sleepysysadmin 5y ago
Good article by paul krugman: https://outline.com/FTZ8eN https://outline.com/FTZ8eN
Basically in the article he outlines what the economists didn't get right and then pointed out that globalization caused virtually all income inequality. That the damage done has basically enabled the existence of people like Trump or movements like Brexit.
The irony is that Krugman still doesn't see the forest through the trees. Not to mention big changes like many countries agreeing upon a minimum corporate tax rate. Which gives huge advantage to anyone who doesn't play ball. Though this is now less to do with economy anymore.
This is bipartisan. Trump started the war with China, and Biden pressed the gas pedal. Tons of countries are clearly declaring their intentions and allies. You can clearly see where this goes, there is no alternatives. However, it's not going to be China as the victor. Sure they have all the factories and largest standing army of any country. They'll not be pulling any trigger and be accepting their depression; see Greece for what is about to happen to China. Followed by a peasant revolt.
- pas 5y agofixed link https://www.slps.org/cms/lib/MO01001157/Centricity/Domain/9446/Inequalit%20Globalization%20and%20the%20Missteps%20of%201990s%20Economics%20Bloomberg.pdf https://www.slps.org/cms/lib/MO01001157/Centricity/Domain/94...