tag:blogger.com,1999:blog-6245381193993153721.post944343707224268710..comments2024-03-17T00:23:24.896-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: The Cult of Free Trade in a NutshellLord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-6245381193993153721.post-18113107172058387352016-07-05T13:35:14.926-07:002016-07-05T13:35:14.926-07:00I found one post on CA on Landsburg's blog you...I found one post on CA on Landsburg's blog you can reply to if you're interested:<br /><br />http://www.thebigquestions.com/2016/06/28/trumponomicsKevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-79010609676210766322016-07-05T06:47:42.432-07:002016-07-05T06:47:42.432-07:00I'd like to hear your arguments about how it w...I'd like to hear your arguments about how it was free trade that destroyed Detroit. I've never been there so maybe all ive heard has been bs to this point, but hearing this is a first for me.P Szarhttps://www.blogger.com/profile/09298180391605451618noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-80046518867777769302016-07-05T06:20:10.766-07:002016-07-05T06:20:10.766-07:00"Yes, large trade deficits may eventually imp..."Yes, large trade deficits may eventually impose balance of payments constraints."<br /><br />No more so than large oil exports. NeilWhttps://www.blogger.com/profile/11565959939525324309noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-60234626340163095822016-07-05T04:12:27.161-07:002016-07-05T04:12:27.161-07:00That example doesn't have the necessary condit...That example doesn't have the necessary conditions for trade to commence under comparative advantage as both parties produce more bats per hour than they do balls.Dinerohttps://www.blogger.com/profile/14632385731642361211noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-36532356914990891242016-07-05T04:10:08.634-07:002016-07-05T04:10:08.634-07:00https://fixingtheeconomists.wordpress.com/2014/05/...https://fixingtheeconomists.wordpress.com/2014/05/01/arguments-against-free-trade-and-comparative-advantage/TheIllusionisthttps://www.blogger.com/profile/17642837989235595346noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-65845847735626895092016-07-05T02:46:52.049-07:002016-07-05T02:46:52.049-07:00Don't forget Anonymous that can produce 6 bats...Don't forget Anonymous that can produce 6 bats and 6 balls per day. With no income you will buy my bats and balls on credit. How does it work now?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-3176710116104527442016-07-05T02:24:04.738-07:002016-07-05T02:24:04.738-07:00Nice.Nice.Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-15833297444778395702016-07-05T02:19:47.553-07:002016-07-05T02:19:47.553-07:00Landsburg's libertarian morality:
"Lands...Landsburg's libertarian morality:<br /><br /><i>"Landsburg [sc. is] a self-described "hardcore libertarian", Landsburg emphasizes the importance of individual choice. This position extends to health care, and his view that those who choose no insurance should not receive potentially life-saving treatment"</i><br />https://en.wikipedia.org/wiki/Steven_Landsburg#Writings_and_work<br /><br />He sounds like a hysterical regressive leftist:<br /><br /><i>Landsburg's comparison of protectionism to racism in Forbes magazine prompted a response from Pat Buchanan</i><br />https://en.wikipedia.org/wiki/Steven_Landsburg#Writings_and_work<br />Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-51486675626953905972016-07-05T02:03:38.765-07:002016-07-05T02:03:38.765-07:00Wow, you sure showed us what a sharp cookie your &...Wow, you sure showed us what a sharp cookie your "hero" is:<br /><br />https://www.amazon.com/review/R270AMAGMS9MSN/ref=cm_cr_dp_cmt?ie=UTF8&ASIN=B0012FB9T8&channel=detail-glance&nodeID=283155&store=books#wasThisHelpful<br /><br />Just a cursory review of what he claims is all I need to know about this buffoon.Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-70023590365459259952016-07-05T01:59:19.871-07:002016-07-05T01:59:19.871-07:00Yes, large trade deficits may eventually impose ba...Yes, large trade deficits may eventually impose balance of payments constraints.Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-72866207461028686582016-07-05T01:30:36.250-07:002016-07-05T01:30:36.250-07:00Poppycock. We understand the abstract argument fo...Poppycock. We understand the abstract argument for comparative advantage as expressed by Ricardo.<br /><br />The point is that it would only hold under highly unrealistic conditions, under the stated and hidden assumptions I have listed above.<br /><br />Unless you want to address this, you've answered nothing.Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-10613175419492290782016-07-05T01:22:34.944-07:002016-07-05T01:22:34.944-07:00No, Ken B, *you* don't know the arguments or t...No, Ken B, *you* don't know the arguments or the views of your opponents. <br /><br />Your opponents do not want to shut off all trade; they fully agree that the world needs high levels of trade and that this -- as long as certain conditions are fulfilled -- is a good thing.<br /><br />(1) <i>"trade *promotes* economies of scale;"</i><br /><br />And where did I say it does not? This is a stupid straw man, indicative of your failure to even understand the arguments above.<br /><br />Yes, increased exports allow a greater volume of production and so can increase industrial economies of scale. <br /><br />But so can tariffs to promote import substitution in the early stages of industrial development. Your statement above does not in any way refute the argument for infant industry protectionism.<br /><br />(2) As for Landsberg, I'll take up your challenge. Which posts are you talking about?<br />Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-51085949486794688362016-07-05T01:04:39.285-07:002016-07-05T01:04:39.285-07:00Won't be enough. Fiscal and monetary policies ...Won't be enough. Fiscal and monetary policies have to be coordinated and there has to be balance of payments targets: <br /><br />http://www.concertedaction.com/2012/08/08/kaldors-growth-plan/Ramananhttp://www.concertedaction.comnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-57934599012523210042016-07-04T22:01:44.847-07:002016-07-04T22:01:44.847-07:00The Real News Network just posted a good one on TT...The Real News Network just posted a good one on TTIP today:<br /><br />https://youtu.be/QPoyj5QkMtUKevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-61718402147477498972016-07-04T20:13:45.491-07:002016-07-04T20:13:45.491-07:00It seems to me most here, LK to the fore, simply d...It seems to me most here, LK to the fore, simply do not understand the Ricardo argument. So let me illustrate simply, with LK and myself as the trading partners. Bats and balls are equally profitable per item. LK produces 3 bats per hour and 2 balls per hour. I produce 2 bats and 1 ball per hour. Who has the comparative advantage in producing bats? <br />We each work 8 hours. who should produce what? If we both need to consume 2 bats and 2 balls per day, does that answer change? Are we then not both better of trading? Won't a barrier hurt us both?<br />Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-20403039852038125972016-07-04T19:22:59.951-07:002016-07-04T19:22:59.951-07:00Thanks for saying this, Lord Keynes.Thanks for saying this, Lord Keynes.Dan Lynchhttps://www.blogger.com/profile/11189866002273597534noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-34391981781874102532016-07-04T19:17:29.614-07:002016-07-04T19:17:29.614-07:00You've almost got it. The advantages of free t...You've almost got it. The advantages of free trade in Smith are not those of Ricardo. Free trade enables specialization.<br /><br />'The difference of natural talents in different men is, in reality, much less than we are aware<br /><br />of' and the very different genius which appears to distinguish men of different professions,<br /><br />when grown up to maturity, is not upon many occasions so much the cause, as the effect of<br /><br />the diffusion of labour. The difference between the most dissimilar characters, between a<br /><br />philosopher and a common street porter, for example, seems to arise not so much from<br /><br />nature, as from habit, custom, and education' Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-55670444578560630182016-07-04T19:16:03.847-07:002016-07-04T19:16:03.847-07:00Detroit, where I live, has actually been destroyed...Detroit, where I live, has actually been destroyed by a union mindset and one party rule. <br /><br />This is all weak LK, confusing simple formulations with essential assumptions. And trade *promotes* economies of scale; your argument just looks foolish there.<br />Landsburg has a recent series of posts and a much sharper commentariat than you face at Murphy's. Try these arguments there, and see what happens. My guess is I won't see that.Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-69190608425038979882016-07-04T17:42:09.601-07:002016-07-04T17:42:09.601-07:00By following those ideas wealth will move to an ev...By following those ideas wealth will move to an ever smaller group of people and jobs will move to the place with the lowest wages and the least regulation.<br /><br />Then the economy of scale stops working because group 1 is to small, group 2 and everyone else doesn't have purchase power.<br /><br />Technology can work as an illusion here: you could replace workers with any inanimate object (say: replace people with flower pots) and arrive at the same end game where nothing is produced because no one "needs" anything anymore.Gaby de Wildehttps://www.blogger.com/profile/02327693016458655191noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-43404139906526098532016-07-04T15:53:44.730-07:002016-07-04T15:53:44.730-07:00This is all very true, but I think the economic co...This is all very true, but I think the economic consequences of trade deficits are a bigger issue for "free trade" and anti-protectionist policies.Kainhttps://www.blogger.com/profile/09841689865415250256noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-61781098329752366682016-07-04T15:21:50.285-07:002016-07-04T15:21:50.285-07:00No because if the elasticity of demand for import...No because if the elasticity of demand for imports and exports is relatively low for some countries, while other countries have higher elasticities of exports imports demand.<br /><br />In this case the former type of countries will be in an inferior position compare to the latter even if devaluation will occur. <br /><br />So devaluation alone will not fix the situation thats why managed trade and heavy capital controls and financial regulations needed anyway no matter what, also i am advocating a proposition of paul davidson (originally of keynes) to establish international monteray clearing union which will not only help all the countries around the globe to achieve full employment and development for third world countries (unlike IMF packages) but also it will help to end the race to the bottom and of course this in turn will help to tame the multinationals as well.disequilibriumhttps://www.blogger.com/profile/09760922141392402211noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-2526398621198235502016-07-04T15:13:03.677-07:002016-07-04T15:13:03.677-07:00Yes, that is basically the Functional Finance / MM...Yes, that is basically the Functional Finance / MMT position. The really bad assumption, the one that causes "disgusting and terrible consequences for real human beings" is that of automatic full employment, not (1) - (5). Calgacushttps://www.blogger.com/profile/06031818010224747000noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-49444284599362428712016-07-04T14:48:47.037-07:002016-07-04T14:48:47.037-07:00Thanks, LK. Good quick breakdown of the flaws of C...Thanks, LK. Good quick breakdown of the flaws of CA, after I had asked you about it.Kevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-76352238939373772302016-07-04T13:33:49.723-07:002016-07-04T13:33:49.723-07:00One question - if every government followed full e...One question - if every government followed full employment fiscal and monetary policies, would that improve the case for more liberal trade?Prateekhttps://www.blogger.com/profile/15287835907015065883noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-41895353674285376372016-07-04T09:57:37.155-07:002016-07-04T09:57:37.155-07:00I'm noting that it is a mathematical character...I'm noting that it is a mathematical characteristic of it.Dinerohttps://www.blogger.com/profile/14632385731642361211noreply@blogger.com