Row 45001

Row ID: 45001 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 45001 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

TL:DR: “But if you insist that inflation hasn’t come way down, the problem isn’t the economy; it’s you.”

What a waste of my time. A condescending series of straw man arguments.

https://www.thenation.com/article/archive/why-was-paul-krugman-so-wrong/

This asshat is part of how we got here in the first place:

“A good many Americans did not believe him, mainly working people who saw their jobs and middle-class wages decimated by the processes of globalizing production. Krugman said they didn’t see the big picture. Educated professionals whose own livelihoods were not threatened by globalization were more likely to embrace Krugman’s perspective. While he never won the debate with the broad public, his argument prevailed where it counts – among the political elites who influence government policy-making. Both political parties, every president from Reagan to Obama, embraced the same free-trade strategy: support US multinational corporations in global competition, as their success is bound to lift the rest of the country.

Roughly speaking, the opposite occurred, not only for the working class but for the broad US economy. The multinationals did fine, but the nation is now mired in large and permanent trade deficits that translate into huge indebtedness to foreign trading partners in Asia and Europe and that exerts continuing downward pressure on US employment and wages. Yet the Obama government is seeking still more free-trade agreements as the answer. The current fiscal debates in Congress do not even recognize that free trade globalization is a core source of America’s diminished prosperity..”

FieldValue
text TL:DR: “But if you insist that inflation hasn’t come way down, the problem isn’t the economy; it’s you.” What a waste of my time. A condescending series of straw man arguments. https://www.thenation.com/article/archive/why-was-paul-krugman-so-wrong/ This asshat is part of how we got here in the first place: “A good many Americans did not believe him, mainly working people who saw their jobs and middle-class wages decimated by the processes of globalizing production. Krugman said they didn’t …
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-22
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Raw Record

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  "text": "TL:DR: “But if you insist that inflation hasn’t come way down, the problem isn’t the economy; it’s you.”\n\nWhat a waste of my time. A condescending series of straw man arguments.\n\nhttps://www.thenation.com/article/archive/why-was-paul-krugman-so-wrong/\n\nThis asshat is part of how we got here in the first place:\n\n“A good many Americans did not believe him, mainly working people who saw their jobs and middle-class wages decimated by the processes of globalizing production. Krugman said they didn’t see the big picture. Educated professionals whose own livelihoods were not threatened by globalization were more likely to embrace Krugman’s perspective. While he never won the debate with the broad public, his argument prevailed where it counts – among the political elites who influence government policy-making. Both political parties, every president from Reagan to Obama, embraced the same free-trade strategy: support US multinational corporations in global competition, as their success is bound to lift the rest of the country.\n\nRoughly speaking, the opposite occurred, not only for the working class but for the broad US economy. The multinationals did fine, but the nation is now mired in large and permanent trade deficits that translate into huge indebtedness to foreign trading partners in Asia and Europe and that exerts continuing downward pressure on US employment and wages. Yet the Obama government is seeking still more free-trade agreements as the answer. The current fiscal debates in Congress do not even recognize that free trade globalization is a core source of America’s diminished prosperity..”",
  "label": "r/economics",
  "dataType": "comment",
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  "datetime": "2024-05-22",
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