A place for thinkers and producers to gather and share their thoughts.
Wednesday, November 01, 2006
Why do we import certain things instead of make it ourselves?
Walter Williams has written a wonderful article on exporting Jobs in comparison to importing certain goods like Cocoa. The interesting thing is that his example does not just apply to people losing jobs to overseas country, but also applies to jobs that are loss do to better competitors in the U.S. that create jobs for their companies, but cause people to lose jobs in other companies. The economy is always balancing itself out to improve the living standard of everyone as long as we have a free market. If not the benefits of division of labor would be crushed by government rewarding their friends while punishing their enemies. Click below to read Walter's article: