A Protectionist Moment?
From Critiques Of Libertarianism
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- http://krugman.blogs.nytimes.com/2016/03/09/a-protectionist-moment/ or search for this URL in the Internet Archive.
Skip past the comments about Bernie Sanders to the important part, where Paul Krugman points out that "much of the elite defense of globalization is basically dishonest".
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But it’s also true that much of the elite defense of globalization is basically dishonest: false claims of inevitability, scare tactics (protectionism causes depressions!), vastly exaggerated claims for the benefits of trade liberalization and the costs of protection, hand-waving away the large distributional effects that are what standard models actually predict[...]Furthermore, as Mark Kleiman sagely observes, the conventional case for trade liberalization relies on the assertion that the government could redistribute income to ensure that everyone wins — but we now have an ideology utterly opposed to such redistribution in full control of one party[....]
Paul Krugman, "A Protectionist Moment?A Protectionist Moment?"