Bill Black: Eduardo Porter’s “Folly”—Why We Must End the “Race to the Bottom”
By Bill Black, the author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. Cross posted from New Economic Perspectives.
Eduardo Porter began by studying physics but decided not to complete his studies and pursue a career in that field in favor of becoming a journalist. He worked for the Wall Street Journal before joining the New York Times, where he writes a periodic column. His primary interest is now economics. I was intrigued by a recent column he did entitled “The Folly of Attacking Outsourcing.”
I reviewed a number of Porter’s NYT columns to get a feel for his views. Defending outsourcing and minimizing the criticisms of undocumented immigrants are his twin passions. He has written roughly a dozen columns on each of these topics. Porter’s starting point is neo-liberal economics. As I will show, he does so despite knowing that neo-liberal economics dogma has proven disastrously wrong.
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