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To: Frodo Baxter who wrote (5564)	2/14/1999 10:16:00 PM
From: CPAMarty	Read Replies (1) \| Respond to of 9256

Thank you for the link, Lawrence. I have printed it and will read it tonight if i have trouble falling asleep. <G>

To: Frodo Baxter who wrote (5564)	2/14/1999 11:40:00 PM
From: Z Analyzer	Read Replies (1) \| Respond to of 9256

<<Although Krugman has freaky weird ideas about Keynes, capital controls, capital markets, monetary and fiscal policies, and the like, he's always dead on right about trade.>> I guess his freaky wierd ideas pervade everything Krugman writes about. I remember a few years ago in a Barron's article, Krugman claiming not to be some "ivory tower academic" (no offense Lawrence) and then saying he couldn't find anyone who could name American industries that had been harmed by foriegn competition. I thought it was one of the most idiotic things I had ever read and I was appalled that Gene Epstein would print such drivel without pointing out its lunacy. <<Extrapolating the past two responses as the average lay understanding of how trade works, I see there is much education to be done.>> My "average lay understanding of how trade works" happens to be derived from majoring in economics at the same fine istitution where you reside. Instead of telling us again about the theoretical benefits of free trade, just for once I would love to hear an economist tell us what economic theory says will happpen to a country that perpetually runs large trade deficits. I would also like to have it explained why free trade will not result in a tendancy toward equalization of the worldwide wage levels for unskilled labor (with huge social implications for the US). And I will repeat my last non-theoretical question which is to ask what societies have ever become great while running large trade deficits. -Z

To: Frodo Baxter who wrote (5564)	2/15/1999 11:26:00 AM
From: Stitch	Read Replies (1) \| Respond to of 9256

Lawrence, <<, I see there is much education to be done.>> Well, I went to your link, all excited about learning the principals of free trade and why isolationism and trade hurdles never work (something I always intuitively believed anyway but it would be nice to quote Krugman, especially here where they think he is the last good maht salleh <G>). And Lawrence, I want to express my appreciation for you pedagogic outburst. It is really at those times that I usually learn something from you. And in this case I tried. I really tried. But when I got to the line below I am afraid I lost it. I am going to hit the sack now but I know my wife is going to wonder why I am chuckling in my sleep. I am going to blame Krugman...and you. "But in that case why should the tits we demand in return for our tats consist only of trade liberalization? " P.S. GONG XI FA CHAI! In case you were wondering Choy Sun Yeh is coming from the Southeast between 11 pm and 12 pm. You should be ready with appropriate paper (yen pao and tien kong gold) to burn and it would really help a lot if you offered vegetarian food including tree fungus, red dates, mushrooms, rice flour noodles, fruits, cake, and agar agar. But most important is 5 cups each of tea and rice wine and be sure to burn a pair wealth god candles. Choy Sun Yeh is the God of Prosperity by the way. I am planning to ace the market this year. This is much better then inside information. Best, Stitch