tag:blogger.com,1999:blog-3758330678390419129.post2053100717265938636..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Trump vs Friedman:Trade Policy DebateRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-64953989882063509672015-11-16T14:08:24.032-05:002015-11-16T14:08:24.032-05:00Thank you to both responses, I will read the linke...Thank you to both responses, I will read the linked articles. I work in manufacturing also, so it is an interesting topic to me. AJOhttps://www.blogger.com/profile/18199742607749169526noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-36483730923045426532015-11-15T01:23:27.586-05:002015-11-15T01:23:27.586-05:00By pure coincidence, today I was reading "the...By pure coincidence, today I was reading "the Ten Great Economic Myths" by Rothbard.<br /><br />Myth #10 is "Imports from countries where labor is cheap cause unemployment in the United States".<br /><br />It would seem to directly address your earlier questions, and is worth the read: https://mises.org/library/ten-great-economic-mythsAd Libertatihttps://www.blogger.com/profile/13565375241577900448noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-22719057597813366302015-11-14T21:41:24.769-05:002015-11-14T21:41:24.769-05:00"But also increases in money supply which hav..."But also increases in money supply which have caused price inflation don't allow us to see the full price effects of sending manufacturing over seas? It just feels like the standard of living has gone down as manufacturing has left."<br />Because I'm in manufacturing, I think about what you've written as well, specifically what I quoted above, quite a bit. Like you, I havenNick Badalamentihttps://www.blogger.com/profile/14015961786370759940noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-29846272527006895462015-11-14T11:58:27.932-05:002015-11-14T11:58:27.932-05:00Sorry about the one man discussion, but I re-read ...Sorry about the one man discussion, but I re-read the free trade section in human action, a recent article by Stockman, and contemplated a little more. Maybe what I'm missing is that the Fed's cheap capital has not allowed markets to fully clear and employment and wages to shift? But also increases in money supply which have caused price inflation don't allow us to see the full price AJOhttps://www.blogger.com/profile/18199742607749169526noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-1117997114159631032015-11-14T11:48:53.959-05:002015-11-14T11:48:53.959-05:00AJO, concern about trade imbalances is a relic of ...AJO, concern about trade imbalances is a relic of the fractional reserve, gold standard era. Basically, with this, the banks in (let's say) America might have $2 million worth of gold [for this example, it doesn't matter if gold is defined as $20 or $35 or $10,000 or anything else] backing $10 million in notes. That would be a 20% reserve. Now, the people of America might spend $1 Ad Libertatihttps://www.blogger.com/profile/13565375241577900448noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-81572931302473530712015-11-14T09:15:09.761-05:002015-11-14T09:15:09.761-05:00I've read Human Action and other economic text...I've read Human Action and other economic texts. I get what you wrote about comparative advantage. I understand we benefit from trade because our goods are cheaper, freeing up capital and decreasing opportunity costs. But there is still a disconnect in my head how a large trade deficit with China or Mexico is a net positive. To me, foreign reinvestment of those dollars would not make up for AJOhttps://www.blogger.com/profile/18199742607749169526noreply@blogger.com