Tuesday, April 19, 2011

Economics Still Not a Science Yet Again

Over to the NRO there is a report of a dust up betwixt the Donald and the Club for Growth. The CFG, which -- I am pretty sure -- didn't sell the Donald his weave, insists that
“One thing that all economists can agree on, regardless of their political leanings left or right, from Paul Krugman and Robert Reich on the left and Art Laffer on the right, is that free trade is beneficial, creates jobs, creates economic value and economic growth and increases the standard of living,” Chocola said.
But where are the jobs? According to ThinkProgress elsewhere where workers' lives are cheap and the living is uneasy:


It might be true that the freer the market the more jobs can be moved from high wage to low wage areas, it really doesn't seem to do much in the lifting all boats category of human improvement. Clearly this particular market has failed and must be regulated as it's invisible hand failed to synchronize the concupiscence and crapulance of the capitalists with the material needs of the workers. (See also)

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