Nachfrage - Der Interview-Podcast von Andreas Sator #2 Ökonomen können das Phänomen Trump nicht erklären: Paul Krugman
Dec 23, 2016
In this engaging conversation, Nobel Prize-winning economist Paul Krugman explores the baffling success of populists like Trump, claiming that economics can't fully explain their rise. He critiques globalization, questioning if it has gone too far, and delves into the complexities of trade agreements like TTIP and TPP in the face of shifting U.S. leadership. Additionally, he investigates the motivations behind Trump's supporters, emphasizing feelings of alienation among white Americans, and discusses Europe’s growing nationalism and the urgent need for economic reforms.
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Globalization's True Impact
- Globalization, specifically in trading goods, has not gone too far from a global perspective.
- Economists should acknowledge that while trade creates winners, there are also losers, but these issues often aren't primarily about trade.
Trade as a Scapegoat
- The current opposition to trade agreements is often about elements unrelated to free trade, like intellectual property and dispute settlements.
- Trade is often a scapegoat for deeper issues such as race and immigration.
Overreach in Global Supply Chains
- The private sector overestimated benefits of complex global supply chains, leading to some reshoring.
- Vertical disintegration via long value chains became too complex and costly.