≡ Menu

Quotation of the Day…

… is from page 571 of Douglas Irwin’s soaring 2017 volume, Clashing Over Commerce; Doug is here discussing manufacturing in the United States during the 1980s:

While trade did not affect total employment, it did affect the composition of employment across different sectors of the economy. Imports destroyed jobs in low-wage manufacturing industries (apparel, footwear, leather) and in some high-wage unionized sectors (autos and steel), while exports created jobs in high-wage industries (aerospace, machinery, pharmaceuticals).