Posted 10:30 AM by Robert

International Trade and American Jobs

The cant from Democratic and left wing quarters on "exporting America" has quieted dramatically in recent months (other than Lou Dobbs, of course, who just can't shut up). I believe that quieting is in large measure attributable to an awakening of sorts on the left as to just how much damage they were doing and just how big a nightmare for their electoral prospects they were creating for themselves.

Here's some further evidence from the Senate Joint Economic Committee (JEC):

The full report.

Highlights:

Over the past 20 years the unemployment rate has fallen significantly despite a steady increase in imports.

Foreign companies employ thousands of U.S. workers in every state.

While some U.S. companies hire foreign workers overseas, the United States still dominates the world in exporting services.

U.S. multi-national corporations have consistently employed the vast majority of their employees within the U.S.

Charts:

Trade Does Not Have a Negative Impact on Employment

The U.S. Has a Trade Surplus in Services

The U.S. Leads in the Export of Services

Multinational Firms Employ More Workers in the U.S.

Of course, none of this copious information and analysis from the JEC explains why one of the world's greatest self-anointed experts in international trade, Herr Doktorprofessor Paul Von Krugman, has had essentially nothing to say about the whole "oursourcing" issue. And this is a man whose basic academic work supposedly fundamentally transformed international trade theory ... but which is never mentioned in the outsourcing discussions! Not even by Lou Dobbs!

Why does Herr Doktorprofessor not instruct the ignorant masses? Surely, the people cry out for his wisdom! ... Don't they?