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Just so I understand this: Instead of graciously welcoming someone admitting an error, you think it's better to mock and insult him?
Maybe if they were not so arrogant in the late 90s about being correct and were not so respected among the elite in creating a group think worshiping corporate supply chains.
Their morals were wrong then and rather than giving up power Krugman tries to course correct. He should voluntarily step down as a voice of authority and admit 'economics' is not a real science as social well being and cultural unity/happiness can not be measured by a group of board members in some corporate office room.
Economics is dangerous pseudoscience. It’s where meteorology was 150 years ago: almost always wrong and hazardous to anyone who relied on it for critical decision-making.
It's not a pseudoscience. Some really valuable insights have come out of the field. The problem is that the field of economics is full of money-grubbers who will, consciously or unconsciously, shape their opinions so that they maximize their personal $$$$$.
Economics is dangerous pseudoscience. It’s where meteorology was 150 years ago: almost always wrong and hazardous to anyone who relied on it for critical decision-making.
Yes—and why did it take so long to admit there were mistakes from theories to practical implementation???
But economists aren’t the ones who closed factories and shipped jobs off short—
Plenty of CEOs, company boards, politicians federal and local and people whose investments did better just looked the other way as the middle class and working class of America were decimated...
Walmart is built on the back of cheap foreign labor and factories
Plenty of other businesses including our pharmaceutical manufacturing which has compromised the purity of our drug supply...to have cheap overseas plants that can avoid issues with waste and sourcing materials.
Maybe if they were not so arrogant in the late 90s about being correct and were not so respected among the elite in creating a group think worshiping corporate supply chains.
Their morals were wrong then and rather than giving up power Krugman tries to course correct. He should voluntarily step down as a voice of authority and admit 'economics' is not a real science as social well being and cultural unity/happiness can not be measured by a group of board members in some corporate office room.
Board members in a board room are not concerned about cultural unity or group happiness
They are only concerned about share price and stock options and influence to ensure their own personal happiness
And they certainly aren’t economists—
The problem with economists is that most of them have never had to work at a real job
They are theory not practice
Just so I understand this: Instead of graciously welcoming someone admitting an error, you think it's better to mock and insult him?
Are you kidding? Gracious my foot! He and his colleagues used those models to justify policies that caused massive job losses in this country and now he says “Oops, sorry. We were wrong.” It’s too little, too late. Just wait until the climate scientists have to do their mea culpa in a few years, after we destroy more whole industries.
Last edited by katygirl68; 10-14-2019 at 11:54 PM..
Protectionism might be bad for your 401k, but it is good for your salary. Without protectionism, you have to complete with cheap labor overseas.
I don’t have to compete with cheap labor overseas. Very hard to ship 20 oxygen cylinders from China to a welding shop for a few bucks a cylinder and make a profit.
Are you kidding? Gracious my foot! He and his colleagues used those models to justify policies that caused massive job losses in this country and now he says “Oops, sorry. We were wrong.” It’s too little, too late. Just wait until the climate scientists have to do their mea culpa in a few years, after we destroy more whole industries.
He is a liberal who cherishes equality of income. Conservative economists do not declare they were wrong. The American consumer has benefited greatly while some workers have gained and others have lost. We have a net gain from globalization.
Why don’t you check out what conservative economists such as Thomas Sowell and Walter Williams have to say concerning globalization?
Just like the Seinfeld episode where loser George does the opposite and suddenly becomes a winner.
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