May 19, 2015

Krugman doesn’t quite hate the TPP, yet

Seems Krugman would really like to give a wholeheartedly thumbs down to the TPP (this is basically the free trade deal for the Pacific rim countries). This would fit into his pundit liberal leanings – but the economist in him really can’t get past the fact that free trade deals are generally seen as good for the economy.

He has said he is a lukewarm opponent and but doesn't think it is that big of a deal. In his last post on the subject he is starting to get more vocal as he rips into a pro-TPP editorial and says that if that is best the supporters can come up with “this is not looking like a good idea”.

Mar 16, 2015

70's weren't that bad -- well for rich folks they were!

Krugman argues the stagflation of the 70's was actually not that bad for the middle-class. The real pain was afflicted on the rich. Not that pain is the right word -- just that the rich did not advance their incomes as much as they were used to. Since the 1970's, however, the rich have been doing fabulously well while the middle class is the segment of society that has not seen their incomes rise as quickly. So when the right instills fear in the electorate about a return to the economics of the 1970's -- there really isn't too much to fear.