Monday, November 25, 2013

Bogus trade arguments are often made in America

Once again I am compelled to remind people that good graphics and snazzy background music are no substitute for proper academic research.

Someone sent Mike Munger a video entitle "Million American Jobs Project" that rehashes the old protectionist get-rich scheme of diverting consumer spending to domestic products while ignoring higher costs and the wealth destruction that follows.

The entire thing appears to be a rip off of ABC's Made in America political campaign from a few years ago, right down to the bogus claim that unnamed economists back up what they're saying.

If each of us spends just 5 percent more on things made in America, economists say we will create a minimum of a million new jobs for Americans.

That's a lie. You're a liar, Mr. nice sweater with rolled-up sleeves to express you devotion to hard work. Your "research" was also a complete farce, as American manufacturing jobs didn't leave so much as get replaced by labor-saving technologies. That's why production levels rose as employment levels fell.

No comments:

Post a Comment