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TPP = 650,000 Jobs? Umm, no... [View all]
....mainstream economists do not believe that the number of jobs is significantly affected by trade policy.
“The reason we don’t project employment is that, like most trade economists, we don’t believe that trade agreements change the labor force in the long run. The consequential factors are demography, immigration, retirement benefits, etc.,” he said. “Rather, trade agreements affect how people are employed, and ideally substitute more productive jobs for less productive ones and thus raise real incomes.”
“The reason we don’t project employment is that, like most trade economists, we don’t believe that trade agreements change the labor force in the long run. The consequential factors are demography, immigration, retirement benefits, etc.,” he said. “Rather, trade agreements affect how people are employed, and ideally substitute more productive jobs for less productive ones and thus raise real incomes.”
The Obama administration’s illusionary job gains from the Trans-Pacific Partnership
http://wapo.st/1ySV6ap
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