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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.