Krugman should talk about what "competition" (subsidized by governments) does on poor countries that cannot compete, how some countries get ruined by others that make them dependent on their markets, how the production of useless products ruins the environment, how cyclic crisis characteristic of capitalism, ruin families, produce stress and affects the health of people.,(reply>), @brennan gum  "If something has demand it has "usefulness" In a market economy yes, in a mixed economy less so, in a command economy not at all. We have a mixed economy, and many useless products and wasted resources because of it.,(reply>), describe useless? Like useless to you? How about me? Maybe I have a use for it. If something has demand it has "usefulness" at the very least to those who are demanding it