Categories:
Labor Market
Macroeconomics
I figured I would talk before the President does. Here goes. Let me know what you think.
I figured I would talk before the President does. Here goes. Let me know what you think.
Sep 8 2011
That's the title of my piece that I wrote for the McClatchy newspaper chain. It ran in multiple McClatchy papers. Here's the one in the Fort Worth Star-Telegram. Here's one excerpt: First, distinguish between bad jobs and good jobs. An example of a bad job is hiring someone to dig a hole and then fill it in. The pe...
Sep 8 2011
Paul Krugman writes, You often hear people saying that the crisis has revealed the need for new economic thinking, for new ideas about macroeconomics. Yet the first priority seems to be to resuscitate old ideas. Brad DeLong describes an interview of Larry Summers by Martin Wolf as follows: "Asked to name where to turn...
Sep 8 2011
I figured I would talk before the President does. Here goes. Let me know what you think.
READER COMMENTS
James Miller
Sep 8 2011 at 10:01am
Excellent. I just put this on the required “reading” list for my intro micro class at Smith College.
Kenneth A. Regas
Sep 8 2011 at 10:41am
Dr. Kling,
You may need a category for people whose personal qualities, rather than government-enforced credentials, protect their wages by making them useful to the other sectors of society regardless of the direction that public policy takes. Think scientists and engineers like me. We don’t need, expect, or get much help from government. Our role in your story is to bankroll government for little in return. Globalization (an element of the ruthless invasion) is our friend. It brings world-wide markets for our skills and cheap foreign workers to supply us our shirts and shoes. You referred to the workers as American. If the welfare of American, as opposed to foreign, workers is a legitimate end (not obvious here in EconLog), then the government could use tariffs to suppress the offshoring of low-skill work. At the cost of a lower overall standard of living, per David Ricardo, the more helpless of the helpless peasants would do a little better, taken out of the hides of foreigners and the other American players.
Ken
p.s. By the way, Kublai Khan actually did employ foreign experts widely in the administration of his empire. Marco Polo, his father, and his uncle performed in that role for some two decades.
Kenneth A. Regas
Sep 8 2011 at 10:55am
It goes almost without saying that the government can also repatriate those foreign workers here who never got or overstayed their permission to live and work here. This can only help their competitors in the labor market, who are among the more helpless of the helpless peasants.
Ken
Ash
Sep 8 2011 at 1:08pm
Dr. Kling,
Insofar as this is a speech in the same sense as President Obama’s (i.e., directed to the electorate), perhaps you should pick a different metaphor; I’m not sure the public would take too kindly to your proposed notion that “ruthless invaders” ravaging a population of “helpless peasants” is good or necessary. At the very least, you ought to explain why the Schumpeterian creative destruction which apparently harms the “helpless peasants” ultimately serves to increase sustainable employment–after all, this is a jobs speech. Nevertheless, for someone who is savvy about your ideas on PSST, this video is excellent.
Joey Donuts
Sep 8 2011 at 1:15pm
Very nice piece Arnold. However, I’m somewhat troubled by the ending where you state “This isn’t inspiring”. I was inspired but what would an inspiring piece with your take on things be like other than this.
Or does inspiring mean a talk that stirs the emotions but has no substance or has no chance of working? I think that’s what we’ll here tonight, but I won’t find it inspring.
Matt C
Sep 8 2011 at 1:57pm
Can we get a transcript? I’d love to read it, but video doesn’t work for me. I’m sure I’m not alone in this.
Mr. Econotarian
Sep 8 2011 at 3:01pm
Nice video!
But you might need better handwriting if you are going to compete with Kahn Academy 🙂
ThomasL
Sep 8 2011 at 4:17pm
Great speech. And on top of that, I am officially a “Ruthless Invader,” which I think I will smile about for the rest of my days.
Another ruthless invader
Sep 9 2011 at 1:44am
Do you have a Wacom tablet yet? That may help with the handwriting. More precision and familiar feel.
Shangwen
Sep 9 2011 at 9:55am
You forgot to mention that the fortified city is governed by a sheriff who keeps everyone in golden handcuffs.
The videos are great, but I urge you to spend some money on a graphic designer.
Comments are closed.