Re: CJE 2001 critical review of trade theory and policy

[Warren Mosler <mosler@xxxxxxxx>]

g kohler wrote:

> The Cambridge Journal of Economics 2001 has an interesting critical
> review article on trade theory and policy. Any comments?
> Gert Kohler

I keep returning to 'fundamentals.'  Without 'full employment' at the national level
(which
no nation has) free trade promotes an international 'race to the bottom' for real wages,

and not the benefits of 'comparative advantage.'  None of the authors use that as a
starting
point, so to defend free trade with unemployment the norm is as hopeless as being
critical
of free trade in general.

www.mosler.org