A few of the letter's statements on trade:
He has misled voters in states like Ohio and Michigan by asserting that the renegotiation of NAFTA or the imposition of tariffs on China would substantially increase employment in manufacturing. In fact, manufacturing’s share of employment has been declining since the 1970s and is mostly related to automation, not tradeEconomist Letter 11012016 on Scribd
He has falsely suggested that trade is zero-sum and that the “toughness” of negotiators primarily drives trade deficits.
He has misled the public with false statements about trade agreements eroding national income and wealth. Although the gains have not been equally distributed—and this is an important discussion in itself—both mean income and mean wealth have risen substantially in the U.S. since the 1980s.
1 comment:
I could probably agree with most of their text, but......370 economists isn't exactly impressive. The US is about 70 times our size, and it would be easy enough to get 5 economists here to sign up to almost any cause (or opposition to any cause) one cares to name.
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