Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Nobel Prize winning economist Paul Krugman has come a long way in the last few years, from being an advocate of America's unilateral-free-trade policy, to being one of its harshest critics.
In an October 17 New York Times commentary (Rare and Foolish), he accuses China of violating WTO rules in its decision to halt rare earth materials exports to Japan and limiting those exports to the United States. He wrote:
And at the end of the commentary, he summarizes:
If Krugman is any indication, there is a sea change going on at the moment among the economists in the ivory tower. Soon, the only economists advocating unilateral free trade will be the ones making American economic policy in Washington.
Journal of Economic Literature:
Atlantic Economic Journal: