In their obsession to privatize economic life, wishing to maximize profits, or to help -- perhaps -- people in developing countries, mainstream economists are ready to sacrifice a lot. Very noble and Nobel. A lot of other people, of course.
Elites are selling this as a grand compromise: Conservatives get Social Security cuts, and liberals get a tax increase. Oh, boy. My question is: what do regular folks get out of the deal besides screwed?
Opponents of climate legislation often claim that now is the wrong time to put a price on carbon, with the economy just emerging from a recession. But the reverse is actually true. Climate legislation would be a stimulus.
Today's "free trade" is not only the last remnant of laissez-faire -- it is its least deserving remnant, full of wholesale foul play, deception, currency manipulation, predatory techniques, and other violations of its rules.