Friday, February 23, 2018
FATAL ECONOMIST TAR BABY MOVE
Rodrik blunders into talking about convergence...
Economist Tar Baby move!
He calls it redistribution, but he is talking about redistribution on a global scale, not redistritution, as it is normally discussed, in obsolete domestic economies, take from the rich and give to the poor.
No.
This redistribution is take from all rich countries' citizens (including even the super rich) and give to poor countries' citizens (and their new super rich), on an enormous, unprecedented scale.
It is called global income convergence.
He suggests a New Deal FDR type tiny band aid for this enormous, deep, and lasting economic gash in advanced Western countries' economies.
Piketty was frankly smarter than Rodrik: he wouldn't touch the economists' tar baby subject of income convergence at all!
Terms search: offshoring economists:
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