The Number Of Jobs Lost To Trade With China Is Zero, Zip, Nada
Forbes
One of the great shouting matches in the current election is over how the American working class has been stiffed by all this free trade stuff. The capitalists get to ship the jobs overseas, increase their profits and it’s Joe Sixpack who gets the shaft. This is not actually the truth of course, but there are enough people who believe it to make it an important factor in said election. For the effect of trade on the number of jobs in an economy is zero. Trade absolutely changes the jobs which are done, that’s rather the point of it. That we get Johnny Foreigner to do what he’s better at than we are and we do what we’re better at than they are. Let the Chinese do the socks and we’ll do the software ...
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