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Friday, November 30, 2018

RE MAGA DREAM MEETS RUST BELT REALITY

Krugman dances all around how dumb Trump is, and how services are taking over. This has been their story for decades. But we'll talk about services later.

Trump counterposes loss of industrial jobs with unfair trade, thus falling into just one of Krugman's many traps.

Trade is a major factor, but increasingly direct foreign investment, and use of foreign IT and industrial workers, workers working abroad, as well as increases in labor saving (eliminating) productivity everywhere, has driven the decline in industrial and IT work here, not trade per se.

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