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Right Wing Media Fall for 'Paul Krugman' Impersonator

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blueraven8/24/2011 12:02:58 pm PDT

re: #110 Martinsmithy

This is classic and erroneous “zero sum game” economic thinking. Free trade agreements result in lost jobs in industries that are outcompeted by foreign economic actors, but result in numerically greater numbers of jobs in industries that can outcompete other foreign economic actors, because of the new markets that are opened up. This is really basic Macroeconomics 101, and the refusal of the left to acknowledge this reality is utterly reprehensible.

Now if you are talking about money for retraining workers who lose their jobs in the “old” industries for jobs in the “new” industries, then I’m all for it. But creating an economic “hothouse” of protectionism for national industries is really a recipe for economic stagnation and eventual disaster.

Maybe you are for it. But your party is not.