Protectionist approach won't create new jobs

[RS Davis]

[glow=red,2,300]Tennessean Wrote:[/glow]"People who are unemployed don't want predictions about the economy. They want jobs. The hypersensitivity to the issue of jobs this election year has resulted in some political position twisting that is not reassuring. Take, for instance, the case of Gregory Mankiw, chairman of the president's Council of Economic Advisers. Mankiw has been castigated of late for his pronouncement about the loss of service sector jobs, saying that 'outsourcing is just a new way of doing international trade.' Political opposites as different as John Kerry and Dennis Hastert roundly condemned Mankiw, accusing him of economic heresy. But while the lawmakers are right about the importance of jobs, their criticism of Mankiw is off-target. The economist may need some coaching in the art of phrasing his comments, but he is right that job shifting naturally occurs in a global economy."

- Rick