Quotation of the Day…
by Don Boudreaux
on August 23, 2018
… 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).
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