Posted on 02/19/2004 8:41:38 AM PST by MegaSilver
Edited on 02/19/2004 9:20:09 AM PST by Admin Moderator. [history]
It is difficult to say something perfectly, precisely false. But House Speaker Dennis Hastert did when participating in the bipartisan piling-on against the president's economic advisor who imprudently said something sensible.
John Kerry and John Edwards, who are not speaking under oath and who know that economic illiteracy has never been a disqualification for high office, have led the scrum against the chairman of the president's Council of Economic Advisers, N. Gregory Mankiw, who said that the arguments for free trade apply to trade in services as well as manufactured goods.
But the prize for the pithiest nonsense went to Hastert: ``An economy suffers when jobs disappear.''
Will still has a good column from time to time, but in between he's become a shill for the most odious forms of federal paternalism.
Ya, where??? I got a hunch your new $60,000 job left right along with the $50,000 job...You'd better take some indian and chinese language classes while you're there...
Could it be that your economic model that you seem to revere was not taught in an era when economics professors were teaching the economic structure in the US??? As I see it, all modern economic "professionals" are globalists...And contrary to your way of thinking, not all conservatives are globalists...Many of us non-globalists are all for economic success within these here United States...
Could it be that YOUR economic model predates Adam Smith?
All classical economic "professionals" were globalists, too. See above post: Adam Smith.
Excerpted and condensed from:
Of Restraints upon the Importation from Foreign Countries
of such Goods as can be produced at Home
"There seem, however, to be two cases in which it will generally be advantageous to lay some burden upon foreign for the encouragement of domestic industry...
As there are two cases in which it will generally be advantageous to lay some burden upon foreign for the encouragement of domestic industry, so there are two others in which it may sometimes be a matter of deliberation; in the one, how far it is proper to continue the free importation of certain foreign goods; and in the other, how far, or in what manner, it may be proper to restore that free importation after it has been for some time interrupted....
- The first is, when some particular sort of industry is necessary for the defence of the country....
- The second case, in which it will generally be advantageous to lay some burden upon foreign for the encouragement of domestic industry is, when some tax is imposed at home upon the produce of the latter. In this case, it seems reasonable that an equal tax should be imposed upon the like produce of the former....
- The case in which it may sometimes be a matter of deliberation how far it is proper to continue the free importation of certain foreign goods is, when some foreign nation restrains by high duties or prohibitions the importation of some of our manufactures into their country. Revenge in this case naturally dictates retaliation, and that we should impose the like duties and prohibitions upon the importation of some or all of their manufactures into ours....
- The case in which it may sometimes be a matter of deliberation, how far, or in what manner, it is proper to restore the free importation of foreign goods, after it has been for some time interrupted, is, when particular manufactures, by means of high duties or prohibitions upon all foreign goods which can come into competition with them, have been so far extended as to employ a great multitude of hands. Humanity may in this case require that the freedom of trade should be restored only by slow gradations, and with a good deal of reserve and circumspection. Were those high duties and prohibitions taken away all at once, cheaper foreign goods of the same kind might be poured so fast into the home market as to deprive all at once many thousands of our people of their ordinary employment and means of subsistence. The disorder which this would occasion might no doubt be very considerable....
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