Top 10

On Friday I gave interest.co.nz a Top 10 which, in a sense, considered trade, immigration, and social policy – at least in terms of some of the principles we used to discuss trade-offs.  Go over and give it a crack 😉

  • Hmmm, I’m not sure you’re right about US workers having downgraded jobs in the face of trade competition, rather than losing them, eg. Autor (2016). Not that there hasn’t been downgrading, too, but there have also been unexpectedly high job losses.

    China’s emergence as a great economic power has induced an epochal shift in patterns of world trade. …Adjustment in local labor markets is remarkably slow, with wages and labor-force participation rates remaining depressed and unemployment rates remaining elevated for at least a full decade after the China trade shock commences. …At the national level, employment has fallen in U.S. industries more exposed to import competition, as expected, but offsetting employment gains in other industries have yet to materialize.