Re: (Blinder 2) More on the anti-globalization trend.



On Fri, 30 Mar 2007, alexy wrote:

"Russell" <Russell.Martin@xxxxxxx> wrote:

On Mar 30, 10:56 am, alexy <nos...@xxxxxxxxx> wrote:
Straydog <a...@xxxxxxxxx> wrote:

I just posted excerpts from a recent WSJ article on Alan Blinder who now
thinks globalization isn't working.


or at least isn't working
for everyone in the way that it was sold to us
said it would.
I think that is more the point he was making. I don't think anyone (of
any credibility) ever said that it would be beneficial for everyone,

I have several books, now, on economics and trade, mostly authored by economists (including academics in faculty positions), where a whole paragraph can be found that presents an unqualified and very credible pro-trade snow job rationalization. Add, pages later, are woven many paragraphs, making reference to Ricardo and "comparative advantage," which convey the absolute impression that there are no caveats.

but Blinder's point, if I read him right, is that those for whom it
will have initial negative effects are a much larger group than
initially thought.

You used the word "initial" as if the negative effects are just going to go away, or be compensated automatically.

Kinda like a "miracle drug" that was initially reported to have minor
side effects. If it is later determined that there are major serious
side effects, that doesn't mean that the drug doesn't work,

That is the "The-operation-was-a-success-but-the-patient-died" line of thinking.

but rather
that its use needs to assessed in light of those side effects,

Yeah, like when the FDA decides, rightfully, to take the damned thing off the market before it kills more people than it cures or helps cure.

and
EFFECTIVE treatments for those side effects need to be developed.

As in "Lets come up with anti-bad-effects-from-pills pills"?

.

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