Must-Read: Paul Krugman: This Is Not A Trade Agreement

Must-Read: Paul Krugman: This Is Not A Trade Agreement: “OK, Greg Mankiw has me puzzled…

…Has he really read nothing about TPP? Is he completely unaware of the nature of the argument Personally, I’m a lukewarm opponent of the deal, but I don’t see it as the end of the Republic and can even see some reasons (mainly strategic) to support it. One thing that should be totally obvious, however, is that it’s off-point and insulting to offer an off-the-shelf lecture on how trade is good because of comparative advantage, and protectionists are dumb. For this is not a trade agreement. It’s about intellectual property and dispute settlement; the big beneficiaries are likely to be pharma companies and firms that want to sue governments. Those are the issues that need to be argued. David Ricardo is irrelevant.

May 1, 2015

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