Published on naked capitalism, by Yves Smith, July 21, 2014.
One way to induce a Pavlovian reflex in mainstream economists is to invoke the expression “free trade”. Conventional wisdom holds that more trade is always better; only Luddites and protectionists are against it. That’s one big reason why the toxic Trans Pacific Partnership TPP and its evil twin, the Transatlantic Trade and Investment Partnership TTIP, have gotten virtually no critical scrutiny, save from more free-thinking economists like Dean Baker. They have been sold as “free trade” deals and no Serious Economist wants to besmirch his reputation by appearing to be opposed to more liberalized trade. Continuer la lecture de « More Challenges to “More ‘Free Trade’ is Always Better” Orthodoxy »