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The Costs of Protectionism

This video from the Onion (rated R for language) brilliantly captures half of the economics of outsourcing. It misses the fact that by allowing jobs to be done more cheaply abroad, there are gains to Americans from lower prices helping to increase our standard of living. But, hey, it’s only two minutes and seventeen seconds. I should be so efficient. (HT: Noah Silbert)


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