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Good Jobs (16) Gary Clyde Hufbauer & Daniel H. Rosen
“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.”Return to the Commons
Of the many foolish arguments for President Biden’s decision to give $400 billion to people who borrowed to attend college, one stood out for its inanity: “Women owe over two-thirds of student debt,” tweeted Senator Elizabeth Warren. “Canceling student debt would help give millions of women a fair shot at starting a business, saving for […]
I spoke earlier this week at a private event for a fervently free-market group. Bringing new ways of thinking to such audiences is a favorite pastime of mine, and one of American Compass’s reasons for being. Partly, of course, this presents an opportunity to persuade. As important, I get to hear the questions and counterarguments […]