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To: AZ_Cowboy

Thoma Sowell lives in the real world, unlike Walter Williams who is a free market, free trade loony toon.


13 posted on 08/16/2005 2:17:34 AM PDT by dennisw (Caught in the crossfire)
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To: dennisw
Thomas Sowell lives in the real world, unlike Walter Williams who is a free market, free trade loony toon.

Thomas Sowell, like Walter Williams, is a strong supporter of free trade. He just understands, like most advocates of free trade, that free trade and illegal immigration are two separate issues.

Manufacturing Confusion

The grand fallacy of those who oppose free trade is that low-wage countries take jobs away from high-wage countries. While that is true for some particular jobs in some particular cases, it is another half-truth that is more misleading than an outright lie.

Facts are blithely ignored by those who simply assume that low-wage countries have an advantage in international trade. But high-wage countries have been exporting to low-wage countries for centuries. The vast majority of foreign investments by American companies are in high-wage countries, despite great outcries about how multinational corporations are "exploiting" Third World workers.

Interview with Thomas Sowell

John Hawkins: Can you explain why protectionist tariffs on let's say steel or textiles actually end up costing America more jobs than they save?

Thomas Sowell: The number of jobs in the steel is exceeded many times over in industries making steel products, from automobiles to oil rigs, refrigerators, locomotives, etc., etc. Tariffs that save jobs in the steel industry mean higher steel prices, which in turn means fewer sales of American steel products around the world and losses of far more jobs than are saved.

More Sowell:
Outsourcing and saving Jobs

17 posted on 08/16/2005 11:32:03 AM PDT by Mase
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To: dennisw

The thing that is a bit annoying about Walter Williams is that he comes across sometimes as seeing everything in terms of economics, as if our nation, and the world beyond is nothing but a market.

However, I must give him credit in that I have heard him speak eloquently about the abuse of power by the Judiciary, and of how peer pressure and cultural pressures serve to undermine the academic ambition of inner-city youths.


26 posted on 08/16/2005 5:46:41 PM PDT by Aetius
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