Saturday, October 15, 2011
Regarding Protectionism and Manufacturing Jobs
Making the assumption that protectionists got their wish for a menu of protectionist measures, and that somehow, someway this lead to more manufacturing jobs appearing/returning to the U.S., and assume somehow, someway everything else remained equal, you would be in fact be staring at the apex of manufacturing jobs as the new level of manufacturing jobs would immediately begin to decline. Why? Because world wide manufacturing jobs are declining as more capital along with technology is replacing human capital. Then what, what then?
Taking this one step further, do you want to increase or attract a sector [manufacturing] who’s need for human capital is decreasing at an increasing rate? Have you in fact attracted a job reducing engine? (2)
(1) Decline of Manufacturing" is Global Phenomenon, Dr. Mark Perry, http://mjperry.blogspot.com/2011/04/decline-of-manufacturing-is-global.html
(2) American Institute of Economic Research, http://www.aier.org/research/briefs/206-the-decline-of-manufacturing