Governments Do Not Necessarily Act In The National Interest, Especially When Making Detailed Microeconomic Interventions. Instead, They Are Influenced By Interest Group Pressures. The Kinds Of Interventions That New Trade Theory Suggests Can Raise National Income Will Typically Raise The Welfare Of Small, Fortunate Groups By Large Amounts, While Imposing Costs On Larger, More Diffuse Groups.

-Paul Krugman

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Governments Do Not Necessarily Act In The

Paul Krugman

Governments Do Not Necessarily Act In The National Interest, Especially When Making Detailed Microeconomic Interventions. Instead, They Are Influenced By Interest Group Pressures. The Kinds Of Interventions That New Trade Theory Suggests Can Raise National Income Will Typically Raise The Welfare Of Small, Fortunate Groups By Large Amounts, While Imposing Costs On Larger, More Diffuse Groups.

Topic

Philosophy

Government

Political

Asset Bubbles Have Happened Even Without Not-so-easy Money. And, In A Depressed Economy, Where Alternative Uses Of Money Are Not Great, People Are Going To Bid Up The Prices Of Profitable Corporations And Stuff Like That.

People

Alternatives

Use