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Paul Krugman - Are Developing Countries Subsidizing the US?





For the latest Paul Krugman, go to http://PaulKrugmanBlog.com -

In the late 1980s, Washington came to agree on the international trade policies. It isn't quite true that underdeveloped countries are subsidizing the lifestyles of the Americans. They don't really know what they are doing in Washington. Most countries are pretty much paying their own way, for better or worse. The IMF and the World Bank aren't going to have the ability to set policies the way that they could a decade ago.

There are situations in which unions have protected unproductive jobs. But look back to when unions were at the highest rate, it was also during the most productive period in American history. As Joni Mitchell said, you don't know what you've got until it is gone. We used to have a good balance in the labor markets, but now there is no one to speak for the workers.

We will probably get legislation in healthcare sooner if we don't push for medicare for all, even though medicare for all is the right solution. The whole healthcare field is at odds with the conservative orthodoxy that you have to constantly fight them back. You should keep fighting it, but the perfect is the enemy of the good.

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