Bill Anderson alerted me to the latest from Paul Craig Roberts. Now PCR keeps accusing us corporate shills of denying economic reality. How long will this persist? E.g. can we continue to eat the seed corn and sow our destruction for another five, ten, fifteen years? PCR has said elsewhere that the US will be a “Third World” economy by 2024. If that hasn’t happened by then, will he admit he’s been totally wrong all along? Or will he “spin reality”?
Of course, there is a danger in making too much of these predictions. It is entirely possible that there could be a major worldwide recession. The point of the free traders is simply that raising tariffs, capital restrictions, etc. won’t mitigate or prevent this.
Last, PCR in this Counterpunch piece says: “Since outsourcing is merely the freedom of property to act in its interest, and since this self-interest is always guided by an invisible hand to the greater welfare of everyone, outsourcing, ipso facto, is good for America. Anyone who doesn’t think so is a fascist who wants to take away the rights of property. Seriously, this is what passes for analysis among “free market economists.”
Well I for one have now written (I think) 4 articles specifically criticizing Roberts’ arguments. I believe I do more in these pieces than simply say, “Property rights good, tariffs bad.” Seriously.
