Sunday, June 22, 2014

International Trade---An Idiot's perspective

Some liberals adhere to Krugman as their intellectual backbone---after all, they feel their points are backed up by a Nobel-winning economist. However, it is recently reviewed that some of them completely ignore Krugman's insight that won him the Nobel Prize--why people trade. Krugman gave a clear answer to the benefit of intra-industry trade---it gives people more variety to enjoy.

Well, you know you can count on New York Times for idiotic protectionist argument. Man, it never disappoints me.

http://www.nytimes.com/2014/06/22/opinion/sunday/why-are-we-importing-our-own-fish.html?hp&rref=opinion&_r=0#permid=12084248

I once thought there is no point teaching intro Econ---these things are obvious, one does not need to learn it from a book. Now I still believe there is no point teaching intro Econ---it is beyond most people.

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