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Good Jobs (16) Gary Clyde Hufbauer & Daniel H. Rosen

| Mar 11, 2022

“Extrapolating the US ITC’s estimate of the one-time percentage import and export trade changes for 10 years, the EPI asserts another 817,000 US jobs will be eliminated through PNTR and Chinese membership in the WTO. The EPI’s calculations are built on an absurd extrapolation of an exaggerated bilateral trade deficit [….] A larger US trade deficit in manufactured goods is historically associated with higher manufacturing output [….] Even if, contrary to evidence, the overall US manufactures trade deficit was associated with lower manufactured output, the bilateral China deficit would have no independent significance [….] An open economy enables the United States to create better jobs, since US exports embody more skills and higher wages (about 15 percent higher) than US imports.12  US trade is a race to the top, not a race to the bottom.”

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Wells King is the research director at American Compass.

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Is Washington the Next Detroit?

Oren Cass | Apr 22, 2022 |

Our latest Compass Point is by James M. Roberts, long-time research fellow at the Heritage Foundation and co-editor of their Index of Economic Freedom, reflecting on his experience in the conservative establishment and the perils of a political movement running on autopilot. “Conservatives are fond of warning that a government program, once established, never dies,” […]

Why the Economists Are Losing

Oren Cass | Apr 06, 2022 |

The rebuttal delivered by Jon Lovitz’s Michael Dukakis, in his debate with Dana Carvey’s George H. W. Bush, is one of Saturday Night Live’s most famous political punchlines: “I can’t believe I’m losing to this guy.” The New York City audience went nuts—neither could they believe Dukakis was losing to Bush. But, of course, the […]