Paul Krugman on Why International Trade is Good
The Good Fight
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Blind Spots in Trade Economics
This chapter examines the shortcomings of traditional economic models in assessing the localized impacts of free trade on workers and industries, in contrast to aggregate benefits. The discussion also highlights the political ramifications of job displacements caused by trade versus technological changes, alongside critiques of how economists and political scientists can miss predicting significant events. Furthermore, it explores the complexities of translating academic insights into actionable policy in the context of U.S. tariffs and their potential impacts on globalization.
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