It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect. Trade policy should be debated in terms of its impact on efficiency, not in terms of phoney numbers about jobs created or lost.
Paul KrugmanThe fact is that the two years or so after 9/11 were a terrible time in America โ a time of political exploitation and intimidation, culminating in the deliberate misleading of the nation into the invasion of Iraq. Itโs probably worth pointing out that Iโm not saying anything now that I wasnโt saying in real time back then, when Bush had a sky-high approval rating and any criticism was denounced as treason. And thereโs nothing Iโve done in my life of which Iโm more proud.
Paul KrugmanItโs not about the budget; itโs about the power...So will the attack on unions succeed? I donโt know. But anyone who cares about retaining government of the people by the people should hope that it doesnโt.
Paul Krugman