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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (36021)3/22/2004 2:30:22 PM
From: Ilaine  Read Replies (1) of 793717
 
Lots of so-called Republicans want to erect trade barriers, too. I've been debating Ricardo's theory of comparative advantage on Free Republic, and was just told by a so-called conservative, in response to a post I made about creative destruction, that labor "has more guns" than capital. I think he meant that if US companies continue to ship low-paying jobs overseas, labor will start shooting capitalists, as they did under Communism.

In vain do we tell them that the US is importing white-collar jobs even faster than we export blue-collar jobs. I realize this may not be much solace to blue-collar workers who were counting on cushy factory jobs for the rest of their lives.

And it's impossible to get them to comprehend "comparative advantage," but then, Samuelson has a famous commentary on that.

>>Nobel laureate Paul Samuelson (1969) was once challenged by the mathematician Stanislaw Ulam to "name me one proposition in all of the social sciences which is both true and non-trivial." It was several years later than he thought of the correct response: comparative advantage. "That it is logically true need not be argued before a mathematician; that it is not trivial is attested by the thousands of important and intelligent men who have never been able to grasp the doctrine for themselves or to believe it after it was explained to them."<<
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