This week Krugman says we ought to acknowledge that there are losers in international trade, and that we should introduce government subsidies, rather than trade restrictions, to help them. He says right-wing ideologues have failed to make note of these losers, even though he himself failed to mention them in his own scholarly work on trade.

But we spend much of the episode defending the unpopular view that globalization is overwhelmingly and indisputably a good thing.

Krugman Column

“Trade, Labor, and Politics” (March 28, 2016)

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Contra Column

“Globalization: The Long-Run Big Picture,” by George Reisman

Book Mentioned

The Politically Incorrect Guide to Capitalism, by Bob Murphy

Episode Mentioned

Ep. 6 Enough About Denmark Already: Here’s What Krugman and Sanders Left Out

The Contra Cruise

Join us October 9-16 for an unforgettable week at sea!

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