Free Trade
Growth and Free Trade: Brain-Dead Dogmas Still Kicking Hard
Submitted by Dan Thompson on Mon, 02/06/2012 - 4:30pm
Author:
Herman Daly There are two dogmas that neoclassical economists must never publicly doubt lest they be defrocked by their professional priesthood: first, that growth in GDP is always good and is the solution to most problems; second, that free international trade is mutually beneficial thanks to the growth-promoting principle of comparative advantage. These two cracked pillars “support” nearly all the policy advice given by mainstream economists to governments.
The Trade Balance, Free Trade, and Energy
Obama had a bad week at the G20. He was rebuked by Western leaders on the weak dollar consequences of QE2, and he failed to secure a Trade Agreement with South Korea.
There is something not terribly compelling about a trip to India, Indonesia, Japan, and South Korea, and pitching these countries on expanding exports from the US to create US jobs. After the pummeling he received back home, it feels like our President got his audience confused. Furthermore, Tea Party influence (and an honest assessment of the facts on the ground) is beginning to raise fundamental questions about the net benefits of our free trade dogma in the first place. We should understand that all of economics is up for re-examination.
The Trade Balance, Free Trade, and Energy
Submitted by John Fullerton on Sun, 11/14/2010 - 11:03pm
Author:
John Fullerton Obama had a bad week at the G20. He was rebuked by Western leaders on the weak dollar consequences of QE2, and he failed to secure a Trade Agreement with South Korea.
There is something not terribly compelling about a trip to India, Indonesia, Japan, and South Korea, and pitching these countries on expanding exports from the US to create US jobs. After the pummeling he received back home, it feels like our President got his audience confused. Furthermore, Tea Party influence (and an honest assessment of the facts on the ground) is beginning to raise fundamental questions about the net benefits of our free trade dogma in the first place. We should understand that all of economics is up for re-examination.
