by Tom Palley
….On one hand, Krugman writes “So the elite case for ever-freer trade is largely a scam, which voters probably sense even if they don’t know exactly what form it’s taking. On the other hand, he writes “In this, as in many other things, Sanders currently benefits from the luxury of irresponsibility: he’s never been anywhere close to the levers of power, so he could take principled-sounding but arguably feckless stances in a way that Clinton couldn’t and can’t.”
Krugman has been a booster of trade and globalization for thirty years: marginally more restrained than other elite economists, but still a booster.
Now, the political establishment has what it wanted and the effects have been disastrous for those not in the top 20 percent of the income distribution…….