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PS i love u
re reading samuelson's
now two year old
intervention
in the domestic
globalization and its discontents
debate ....====================================
he's quite a rare and brilliant fox
on the edge of 90 when he
wrote this" rebut and confirm "
a suggested
course correction
in other words
at least in the public debate
if not the policy linebecause
the debate
he seems to think
has steered itself
too close to the fools scylla
of
more and more types and amounts
of
trade is always better trade----------------------------------
he gives some very simple models
where that ain't necessarily soand then with a trust me
adds a few avenues of
"generalizations"
in the direction of "realism"where his cautionary tale
still keeps its clear "qualitative "head
above the gathering complexity
such as f factors n nations and m productsborder effects and non tradeable products
economies of scale in production
different types of labor
and a layer of credit markets
over the product markets
the line of confidence wavers of coursebut a detailed recounting would be very much fun i think
to show this mind chewing thru its own insights and blind spots----to be continued -----
and then
Posted by lady eve at July 16, 2006 04:49 PM
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