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Comments on: Top 10 http://www.tvhe.co.nz/2016/11/28/top-10/ The Visible Hand in Economics Mon, 28 Nov 2016 09:44:00 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: jamesz http://www.tvhe.co.nz/2016/11/28/top-10/#comment-43799 Mon, 28 Nov 2016 09:44:00 +0000 http://www.tvhe.co.nz/?p=12813#comment-43799 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.

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