In a recent column, Paul Krugman lamented that large numbers of Americans are harmed by trade with other countries and prescribes an improved “safety net” to help them — that is, more welfarism.
In his Friday column Sheldon Richman takes issue with Krugman, mainly on the notion that we need more welfare programs. Instead, he recommends freeing up the economy so as to allow those who might lose employment due to competition (something that happens even without foreign trade) the maximum of opportunities to improve themselves. Increasing welfare has its own set of undesirable consequences.
