General Discussion
In reply to the discussion: Krugman: Obama and the One Percent [View all]Demo_Chris
(6,234 posts)The idea that Obama has been tough on the wealthy is as ridiculous as claiming that the Pope is tough on pedophiles. The elite, as always, own the White House and the current administration, and Obama does exactly what they tell him to do. As for Krugman, he is living proof that economics is more religion than science. He was an outspoken supporter of NAFTA and free trade before it passed and he defended it in the face of all evidence after it had passed.
Now he is defending the TPP. According to him, it's just no big deal. Just like NAFTA. According to his school of economic thought, which might as well be defined as slightly modified supply side, efficiencies from free trade are passed along to workers in the form of higher wages. Presumably, in Krugman's world view, outsourcing someone's job results in them receiving a pay raise. Or something. No, it doesn't make sense to me either, but it's not supposed to. You aren't supposed to look past the headlines or first paragraph on articles of this type. Just repeat the headline: 'Nobel prize winning liberal economist thinks free trade is awesome.'
But just as Krugman's defense and promotion of 'free trade' evaporates on examination, so too does his praise of this administration in the current article. Don't THINK about what he is saying, just repeat the headline like a mantra. Obama's tough on the 1%, the 'Nobel prize winning liberal' says so.