Also, you used to use Keynes's long run quotation as your sig. How long has the US run deficits. This country actually imports quite a bit more than it exports, but despite the run-up of "unskilled" jobs during the final couple of Clinton years, outsourcing has been a definite negative for most "unskilled workers."
All this in response to the sigh that my ignorance evoked.
On Tue, Jul 03, 2001 at 01:41:37PM -0700, Brad DeLong wrote:
> >The large company is also more likely to outsource its jobs abroad, so the
> >benefits are not clearcut.
> >
> >On Tue, Jul 03, 2001 at 03:51:02PM -0400, Doug Henwood wrote:
> >> Max Sawicky wrote:
> >>
> >> >In principle profit *levels* would seem to be meaningless.
> >> >Other things equal, I'd rather own a small company making
> >> >10% than an equivalent piece of a large company making 5%.
> >>
> >> Why? The large company is more likely to pay better, offer health
> >> insurance, pollute less, and provide a less risky workplace.
> >>
> > > Doug
>
> *Sigh*. In the long run trade (plus capital flows) balance. If one
> company buys stuff from people abroad, another company must sell
> stuff to people abroad.
>
>
> Brad DeLong
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu