Posted on 08/02/2016 5:46:48 AM PDT by expat_panama
Foreign trade took a beating at both major party conventions, with speakers blaming free-trade agreements for all but wiping out U.S. manufacturing and eliminating millions of middle-class jobs. Both Donald Trump and Hillary Clinton have promised to renegotiate or abandon trade agreements with key U.S. trading partners such as Mexico and Canada. That would be a colossal mistake.
The number of manufacturing jobs in the United States has indeed been in a long decline since the late 1970s...
American factories and American workers are making a greater volume of stuff than eve...
...America’s 21st century manufacturing sector is dominated by petroleum refining, pharmaceuticals, plastics, fabricated metals, machinery, computers and other electronics, motor vehicles and other transportation equipment, and aircraft and aerospace equipment.
We produce more manufacturing value with fewer employees...
The political anger about lost manufacturing jobs should be aimed at technology, not trade.
The political anger about lost manufacturing jobs should be aimed at technology...
...globalization and trade agreements have made a huge contribution to the ongoing success of American manufacturing...
...more than half of what Americans import each year is not for consumption but for production...
Like technology, globalization has allowed American manufacturing workers to “trade up” to more challenging and better-paying work...
...millions of U.S. jobs are eliminated each year by technology and changing consumer tastes, only to be replaced by new jobs that are being created by the same dynamic forces.
The right response to anxieties about trade is to invest more in education, retraining and enhanced labor mobility, not to pick trade fights with other nations that would put in jeopardy the success of America’s modern, competitive manufacturing sector.
(Excerpt) Read more at latimes.com ...
Yes.
If tariffs made every imported car $10,000 more expensive, would GM raise prices?
Demand goes down and prices go up? What f-ed place taught you economics?
Same fixed costs spread across fewer planes.
Where did you fail your last econ class?
Funny thing GM would be paying a tariff on cars they MAKE overseas competing with itself, with there own domestic factories. The grand conundrum. Love it.
Funny thing, they’d raise their prices.
Ok so demand goes down prices go up and when demand goes up prices go up, is this your mentally ill view of economics? Stop drinking....
1. Why does your graph only go back to 2010?
2. Manufacturing seems to be trending down again.
Let’s say a domestic car manufacturing goes completely off shore for production. Take Ford or any other name brand. So they go from 600,000 domestic employees to maybe 20,000. All that is left is the HQ, R&D, engineering and advertising and finance. If they go out if businesses and 20,000 get laid off why should I care? What is the impact? Compared to the 580,000 losing their jobs the impact is nil. The damage to the economy was already done when they shut down production.
If Boeing can spread the same fixed costs across more planes, prices would go down.
is this your mentally ill view of economics?
Mocking your idiocy........
What we are seeing with China and Mexico is not natural comparative advantage. It is purely labor and regulatory arbitrage under global trade agreements and the reason is it happening is because the US government has become the agent of the global-redistribution Left and of transnational businesses, and is no longer the agent of the American people.
What we are seeing with China and Mexico is not natural comparative advantage. It is purely labor and regulatory arbitrage under global trade agreements and the reason is it happening is because the US government has become the agent of the global-redistribution Left and of transnational businesses, and is no longer the agent of the American people.
I loved my Econ classes. I had a Koean Lady Prof who pronounced Socaial Benefits as SoSo Beneefits. ; )
Very interesting segment on CBS Sunday Morning a couple weeks ago. Chinese Harley Biker Club.
Accidentally, they let a person say, on camera, that the Chinese Harley Davidson club was somewhat elite, because the Chinese tariff on the Harley “triples its price” to Chinese buyers. That plus transportation pushed the cost to $100,000 per bike.
I wonder how many Harleys would be sold in China if the tariff was zero?
It is a matter of National Security.
Imagine if we had outsourced our steel production to Japan in the 1920s and 1930s, then where would we have been?
None of the Free Trade zealots I battle on a daily basis ever address national security. One of them told me we don’t have to worry about a global war of attrition because we have nuclear bombs. isn’t that special.
If you are trying to tell me that price goes up when demand goes down you are crazy.
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