Paul Krugman Almost Makes Sense

Paul Krugman Almost Makes Sense

In a departure from his usual rants, Paul Krugman criticizes, however gently, John Kerry and John Edwards for advocating protectionism.

"Let me spare you the usual economist's sermon on the virtues of free trade, except to say this: although old fallacies about international trade have been making a comeback lately (yes, Senator Charles Schumer, that means you), it is as true as ever that the U.S. economy would be poorer and less productive if we turned our back on world markets. Furthermore, if the United States were to turn protectionist, other countries would follow. The result would be a less hopeful, more dangerous world."