The old protectionist dodge
This optimism is consistent with our history. Jobs moved from the Northeast to the South, then moved abroad, always accompanied by predictions of doom. We feared the migration of our industries to Japan in the 1950s and 1960s, OPEC's buying the world in the 1970s, and the giant sucking sound of jobs going to Mexico in the 1990s. But every time, we have been able to adapt, creating new industries and jobs that never existed while we abandoned others.
This doesn't mean that we should stand still, of course. Unlike the 1980s, when outsourcing badly hurt the manufacturing world, companies this time are benefiting from shifting lower-cost production overseas, and it is the workers who are being hurt. So companies have a responsibility to enhance their training programs, using a portion of their savings from outsourcing. Government also has a role to play, protecting intellectual-property rights, encouraging new research and development, and improving the education and training of our people. The only solution is to upgrade our skills.
Protectionism is an easy call, but it's a delusional one. The Democrats are demagoguing the issue in the hope it will produce votes. They may be right, but it is economic nonsense. Most Americans, I believe, will be wise enough to see that.
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