Friday, July 20, 2012

Exports, Imports and Political Gibberish



A politician in office, or one seeking office, need not be too bright when it comes to getting votes or keeping voters happy. That is, if he or she is willing to resort to some basic gibberish, which will act as bait to keep the public loyal.

One tack is to take the position that exports are fine but imports are bad. Outsourcing of jobs is terrible and is tantamount to treason.

But it takes common sense and thought to delve into available numbers. So-called imports may not be finished products but become part of domestic production. Outsourcing of certain jobs may be a means of producing more value productivity and jobs domestically.  Besides, as an export nation, the U.S. cannot invite retaliation from its overseas customers by refusing the latter’s offerings. (See the Earl J. Weinreb NewsHole® comments.)

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