Economía
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Contra el proteccionismo
Enviado por el día 30 de Marzo de 2005 a las 08:58
Datos que demuestran que el proteccionismo está errado.
What Are We to Make of the Trade Deficit?
by Stefan M.I. Karlsson
[posted March 21, 2005]
Despite a falling dollar, the U.S. trade deficit has continued to increase to new record levels. The total current account deficit1 rose to a record 6.3 % of GDP during the 4thquarter of 2004, exceeding for the first time ever 6% of GDP. What are the implications of this for the U.S. economy? Is it good or bad? Or a little bit of both?
The answer to this question also reveals what, if anything, should be done about it.
The answer to this will be derived by refuting the two most common views of the implications of the trade deficit, the mercantilist and the supply-side view, who are strongly at odds with each other but still both manages to get it wrong, albeit in different ways. In this, the debate is akin to the marxist and neoclassical theories, which are strongly at odds with each other, but still manage to get it wrong.
The mercantilist view of the trade deficit is the one held by protectionists of various stripes, including paleoconservatives like Pat Buchanan and Paul Craig Roberts, CNN News anchor Lou Dobbs and the left-wing Economic Policy Institute. This view in effect holds that the trade deficit kills jobs. Paul Craig Roberts, Lou Dobbs and the Economic Policy Institute have all explicitly blamed the trade deficit for the--by American standards--slow job growth during recent years and Pat Buchanan used to repeat the calculation by a U.S. trade representitive that $1 billion in exports means 25000 jobs, which he then used to argue that this means that a trade deficit of $300 billion translated into 7.5 million lost jobs from trade. He has stopped using that calculation now presumably because even he realizes that it is absurd to try to argue that America with its current $700 billion trade deficit would have 17.5 million more jobs in the absence of trade...
Artículo completo en:
http://www.mises.org/story/1762
saludos
What Are We to Make of the Trade Deficit?
by Stefan M.I. Karlsson
[posted March 21, 2005]
Despite a falling dollar, the U.S. trade deficit has continued to increase to new record levels. The total current account deficit1 rose to a record 6.3 % of GDP during the 4thquarter of 2004, exceeding for the first time ever 6% of GDP. What are the implications of this for the U.S. economy? Is it good or bad? Or a little bit of both?
The answer to this question also reveals what, if anything, should be done about it.
The answer to this will be derived by refuting the two most common views of the implications of the trade deficit, the mercantilist and the supply-side view, who are strongly at odds with each other but still both manages to get it wrong, albeit in different ways. In this, the debate is akin to the marxist and neoclassical theories, which are strongly at odds with each other, but still manage to get it wrong.
The mercantilist view of the trade deficit is the one held by protectionists of various stripes, including paleoconservatives like Pat Buchanan and Paul Craig Roberts, CNN News anchor Lou Dobbs and the left-wing Economic Policy Institute. This view in effect holds that the trade deficit kills jobs. Paul Craig Roberts, Lou Dobbs and the Economic Policy Institute have all explicitly blamed the trade deficit for the--by American standards--slow job growth during recent years and Pat Buchanan used to repeat the calculation by a U.S. trade representitive that $1 billion in exports means 25000 jobs, which he then used to argue that this means that a trade deficit of $300 billion translated into 7.5 million lost jobs from trade. He has stopped using that calculation now presumably because even he realizes that it is absurd to try to argue that America with its current $700 billion trade deficit would have 17.5 million more jobs in the absence of trade...
Artículo completo en:
http://www.mises.org/story/1762
saludos