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PEDDLING_PROSPERITY_RECYCLED

                                             September 04, 2021



Paul Krugman, "Peddling Prosperity" (1994)

There are a few themes that recur
throughout "Peddling Prosperity":


   o   The conservative economics polices circa the
       1980s were indeed wrong, and didn't deliver
       on their promises (whatever you may hear
       claimed about them)-- but on the other hand
       they didn't seem to be supremely damaging
       either.

           "Reagan destroyed the country" isn't right.
           Closer would be "Reagan didn't do all that much."

   o   The things that you might hope to have explained
       by economics remain somewhat mysterious: why was
       there an upswing of inflation in the 70s?  Why has
       there been a surge in inequality since the 80s?

           There are a bunch of plausible stories
           that have been floated, but no reason
           to believe any in particular.


                  At least that's how the world looked to Krugman
                  given the available evidence in the early 90s.


                  Periodically, I wonder if he's moderated his
                  opinions about "free trade" somewhat...

                                                   KRUGMAN_TRADES


                  Krugman has always seemed to me to be good at
                  getting the things he says right, *as far as he
                  takes them*, but there are always some areas he
                  skips; there are areas where he effectively has
                  blindspots.  His main focus is economics, which
                  is fine, but he often talks as though there is
                  nothing that matters *except* economics,

                  Like, okay "free trade" and all, but is it a
                  good thing to export a lot of manufacturing to a
                  country with weak environmental controls and
                  labor regulations like China?

                  And if you're somewhat concerned about, say,
                  American military adventures, Krugman can seem
                  oddly besides the point.

                      And he loses his marbles completely
                      during Democratic primaries...

                                                    KRUGMAN_BERNIE_WARS

                      Maybe he'll do better next time, presuming
                      Hillary Clinton isn't running again.





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