#Economics, #Politics

When economic times are bad, animosity is directed at foreigners: “They’re taking our jobs!” So it’s unsurprising that the presidential campaigns feature charges and counter charges about outsourcing, the employment of foreign labor by American companies…Adam Smith observed, “The division of labor is limited by the extent of the market.” If the extent of the market is artificially constricted by politicians (no one else has such power), the division of labor and its concomitant progress are stunted—and we are poorer than we would have been.

Thus we should worry whenever politicians attempt to incite the public against global trade in goods and services.

Sheldon Richman on Outsourcing


This is partially why I hate election time–especially now that a politician’s statements are likely to be taken out of context and used as tool to bludgeon them into political submission. Also, the pandering to special interests is disgusting at best.