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I've gained a little more respect for Paul Krugmann...

Mensch

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Granted, I still generally disagree with his overall economic worldview. I did happen to come across some of his ideas that I do support. Though, as a social democrat, I don't see how he can stand by such viewpoints:

From WIKI:

Krugman has advocated free markets in contexts where they are often viewed as controversial. He has written against rent control in favor of supply and demand,[126] argued that "sweatshops" are preferable to unemployment,[27] challenged minimum wage and living wage laws,[127] likened the opposition against free trade and globalization to the opposition against evolution via natural selection,[128] opposed farm subsidies[129] and mandates, subsidies, and tax breaks for ethanol,[130] questioned NASA's manned space flights,[131] and written against some aspects of European labor market regulation.[132][133] He once famously quipped that, "If there were an Economist’s Creed, it would surely contain the affirmations 'I understand the Principle of Comparative Advantage' and 'I advocate Free Trade'."[134][135]
 

Kushinator

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Granted, I still generally disagree with his overall economic worldview. I did happen to come across some of his ideas that I do support. Though, as a social democrat, I don't see how he can stand by such viewpoints:

From WIKI:

Krugman has advocated free markets in contexts where they are often viewed as controversial. He has written against rent control in favor of supply and demand,[126] argued that "sweatshops" are preferable to unemployment,[27] challenged minimum wage and living wage laws,[127] likened the opposition against free trade and globalization to the opposition against evolution via natural selection,[128] opposed farm subsidies[129] and mandates, subsidies, and tax breaks for ethanol,[130] questioned NASA's manned space flights,[131] and written against some aspects of European labor market regulation.[132][133] He once famously quipped that, "If there were an Economist’s Creed, it would surely contain the affirmations 'I understand the Principle of Comparative Advantage' and 'I advocate Free Trade'."[134][135]

As Mr. Miyagi said in Karate Kid II:

Mr.Miyagi said:
Never put passion before principal. Even when win, you lose.
 

phattonez

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Granted, I still generally disagree with his overall economic worldview. I did happen to come across some of his ideas that I do support. Though, as a social democrat, I don't see how he can stand by such viewpoints:

From WIKI:

Krugman has advocated free markets in contexts where they are often viewed as controversial. He has written against rent control in favor of supply and demand,[126] argued that "sweatshops" are preferable to unemployment,[27] challenged minimum wage and living wage laws,[127] likened the opposition against free trade and globalization to the opposition against evolution via natural selection,[128] opposed farm subsidies[129] and mandates, subsidies, and tax breaks for ethanol,[130] questioned NASA's manned space flights,[131] and written against some aspects of European labor market regulation.[132][133] He once famously quipped that, "If there were an Economist’s Creed, it would surely contain the affirmations 'I understand the Principle of Comparative Advantage' and 'I advocate Free Trade'."[134][135]

It seems that there is almost universal agreement about farm subsidies amongst economists, but they persist to this day. It's an interesting phenomenon.
 

Lord Tammerlain

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It seems that there is almost universal agreement about farm subsidies amongst economists, but they persist to this day. It's an interesting phenomenon.

Farm subsidies are an entirely political and potentially security issue.

The politics of course is a simple enough issue to understand, the security not so much.

Being dependant on a foreign country for food (basic foodstuffs) can put your country at huge risk. A bad harvest in the other country might cause them to stop exporting food that your country needs to feed its people. That is why countries are willing to maintain stockpiles of wheat, rice year after year, and to ensure that at least some basic agricultural production is going on
 

tacomancer

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It seems that there is almost universal agreement about farm subsidies amongst economists, but they persist to this day. It's an interesting phenomenon.

Its a testament to the power of lobbying and corruption, I mean, campaign contributions.
 

phattonez

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Farm subsidies are an entirely political and potentially security issue.

The politics of course is a simple enough issue to understand, the security not so much.

Being dependant on a foreign country for food (basic foodstuffs) can put your country at huge risk. A bad harvest in the other country might cause them to stop exporting food that your country needs to feed its people. That is why countries are willing to maintain stockpiles of wheat, rice year after year, and to ensure that at least some basic agricultural production is going on

The political aspect of it I understand completely. The security, it's not a good argument. After all, why can't we leave investors to make stockpiles for us? We do it for all other kinds of goods, so why not food?
 
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