Paul Krugman on the New Candidate for the Worst Washington Post Editorial Ever
Paul Krugan:
Things free trade doesn’t do: There are a lot of good things you can say about international trade. But it does not, repeat not, do anything to alleviate a shortage of overall demand. Yes, if you liberalize trade countries will export more. But they will also import more. If you’re worried about C+I+G+X-M, it’s a wash, because X and M rise equally. Which makes this WaPo editorial on things Obama should be doing about jobs truly bizarre. Even if the proposed trade deals with Korea and Colombia were remotely big enough to bear mentioning in the context of the crisis — which they aren’t — they wouldn’t be job creation measures. But then, the bit about reducing minimum wages is equally off point, because the level of wages has nothing to do with the overall employment problem.
OK, they don’t like Obama’s policies. But these are ridiculous alternatives.
Shut the Washington Post down. Shut it down now.
And let me say that now that the Sixteen-Year-Old's PSAT scores have come back, it is very clear to us that Princeton Review is a much better test prep company than Stanley Kaplan.
