Thomas Sowell explains the problem of the Rust Belt!
"Rescuing the Rust Belt" is the politically incorrect - and accurate - analysis of more "unintended consequences" of the lefts policies. Mr. Sowell clearly explains how labor unions and politicians are the reason for job losses - which are being replaced in the U.S. by foreign companies, but not in the "rust belt" due to the original policies still being in place.
The closing three paragraphs explain in summary:
"Jobs are always disappearing. The big question is why they are not being replaced by new jobs. Rust belt policies that drove out old jobs also keep out new jobs.
NAFTA makes it easier for politicians to blame the problem on foreigners. In fact, foreigners make ideal scapegoats for politicians. After all, people in Japan or Indi can't vote in American elections.
Americans who can vote would do well to start spending more time thinking about economic realities, instead of being swept away by political rhetoric."
Read the whole thing - it is short and VERY important to understand!
The closing three paragraphs explain in summary:
"Jobs are always disappearing. The big question is why they are not being replaced by new jobs. Rust belt policies that drove out old jobs also keep out new jobs.
NAFTA makes it easier for politicians to blame the problem on foreigners. In fact, foreigners make ideal scapegoats for politicians. After all, people in Japan or Indi can't vote in American elections.
Americans who can vote would do well to start spending more time thinking about economic realities, instead of being swept away by political rhetoric."
Read the whole thing - it is short and VERY important to understand!
Labels: Economics
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