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Free Trader Paul Krugman Admits Failure of Globalization for U.S. Workers

posted onOctober 14, 2019
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Article snippet: In a column for Bloomberg titled “What Economists (Including Me) Got Wrong About Globalization,” Krugman admits that the economic consensus for free trade that has prevailed for decades has failed to recognize how globalization has skyrocketed inequality for America’s working and middle class workers. Krugman writes: Krugman, though, writes that he and his fellow free trade economists “had no way to know” that globalization of the American economy or a surge in trade deficits “were going to happen,” though the anti-globalization movement had warned for years of the harmful impact free trade would have on U.S. workers — including Donald Trump. In an interview with SiriusXM Patriot’s Breitbart News Tonight, economist Alan Tonelson said that Krugman’s acknowledging that he and the free trade economic consensus has been wrong is “better later than never,” but “the damage has already been done.” LISTEN: “There’s been an even more startling, in fact jaw-dropping, development on that front. Paul Krugman, the famous Never Trumper, the famous pro-free trade economist, the Nobel Prize winner just published an article … saying that for the past 20 years, he and his other globalist, free trade economist friends have been substantially wrong about the effect of globalization, particularly more trade with low income, low wage countries like China,” Tonelson said. “They’ve been substantially wrong about its effects on the American economy and American workers in particular,” T... Link to the full article to read more

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