Economic nonsense on job outsourcing

George Will:

...

"John Kerry and John Edwards, who are not speaking under oath and who know that economic illiteracy has never been a disqualification for high office, have led the scrum against the chairman of the president's Council of Economic Advisers, N. Gregory Mankiw, who said the arguments for free trade apply to trade in services as well as manufactured goods. But the prize for the pithiest nonsense went to Hastert: 'An economy suffers when jobs disappear.'

"So the economy suffered when automobiles caused the disappearance of the jobs of most blacksmiths, buggy makers, operators of livery stables, etc.? The economy did not seem to be suffering in 1999, when 33 million jobs were wiped out - by an economic dynamism that created 35.7 million jobs. How many of the 4,500 U.S jobs that IBM is planning to create this year will be made possible by sending 3,000 jobs overseas?"

The Dems had no problem when Bill Clinton and possibly John Kerry outsource their love life. Their current mad dog attack on an economist for speaking the truth sounds like they are still morning the decline of the buggy whip business. An honest argument on this point seems beyond them. In the meantime the Republicans are showing no profiles in courgae in defending the truth. Politics can be so sick.

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