Comment

Right Wing Media Fall for 'Paul Krugman' Impersonator

156
Gus8/24/2011 12:22:44 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.

You’re entitled to your opinion but I said nothing about protectionism. Being critical of trade agreements does not lead one to conclude that the opposite is acceptable. This is a democracy and the left and the unions are entitled to be heard during the legislative process. In all processes.