…is from page 22 of Paul Krugman’s 1996 book Pop Internationalism:
So let’s start telling the truth: competitiveness is a meaningless word when applied to national economies. And the obsession with competitiveness is both wrong and dangerous.
Although this sentence was written over 20 years ago, not much has changed. The arguments of Clinton Krugman refutes in this first chapter of his book are identical to ones being put forth now by Trump: concerns about “competitiveness,” bad mathematics, incorrect claims of the trade deficit destroying jobs, etc etc etc. The scarcityist fancies himself a “practical” man, but he deals in false and long-dead ideas.