Walter E. Williams: Trade deficit, manufacturing job losses bad news? Look again

Stunning.

Dr. Williams gets so many things wrong in the same article. It is as if he were a political shill rather than a serious economist . . .

First, the issue is not strictly manufacturing jobs. Look at manufacturing per More..

As agricultural jobs vanished they were replaced with manufacturing jobs that paid better than the agricultural jobs they replaced. As manufacturing jobs vanished they were replaced with service jobs that paid nowhere near as well as the More..

Years ago I read a book (author Nesbitt?) about the US moving from a manufacturing (making things such as autos, clothes, ships, etc.) economy to a service economy (flipping hamburgers, selling insurance, etc.).

The rest of the story is More..