Quantcast
Connect with us

Paul Krugman drops a truth bomb about US manufacturing: No policy ‘will bring back those lost jobs’

Published

on

Economist Paul Krugman Friday poured cold water on Donald Trump’s pledge to bring back manufacturing jobs to the United States, explaining, “nothing policy can do will bring back those lost jobs.”

In a series of posts, Krugman wrote, “the story of U.S. manufacturing is basically one of high productivity growth allowing demand to be met with ever fewer workers,” followed by a graph demonstrating how an increase of output per person relates to labor productivity.

Bringing back manufacturing jobs was one of Trump’s integral campaign promises. Thursday, the president-elect tweeted he is “working hard, even on Thanksgiving, trying to get Carrier A.C. Company to stay in the U.S. (Indiana). MAKING PROGRESS – Will know soon!”

For all of Trump’s promises, Krugman notes that automation is the future of manufacturing, meaning even if the president-elect is successful at keeping factories in the United States, technological advances mean the industry will still see job loses as companies push to lower costs. “Nothing policy can do will bring back those lost jobs,” Krugman continued. “The service sector is the future of work; but nobody wants to hear it.”


Report typos and corrections to [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Parliamentarian rules that Speaker Pelosi cannot call Trump’s comments racist — banning her from speaking all day

Published

on

The Parliamentarian for the House of Representatives ruled against Speaker Nancy Pelosi on Tuesday for declaring President Donald Trump's comments racist on the floor.

"In a highly unusual rebuke to the speaker, the House parliamentarian said Pelosi’s comments were not in order and should be stricken from record," CNN's Manu Raju reported Tuesday.

"House now voting on GOP motion to strike her words from record, but it will fail," he predicted.

The ruling means Speaker Pelosi is banned from holding the floor for the rest of the day absent a vote by the full House to restore her privileges.

Continue Reading

2020 Election

The media’s ‘Made in America’ problem: Trump creates racist controversy — and gets free campaign coverage

Published

on

Let’s presume, however depressing that notion may be, that mainstream news organizations will continue to fumble the ball when it comes to directly calling blatantly racist statements coming out of Donald Trump’s mouth what they are, which is racist.

Let’s also presume that in the fallout of such incidents like Trump’s racist tweets on Sunday, media organizations adopt predictable stances. Most struggle to maintain a sense of equanimity and fairness when it comes to calling out Trump’s racism. Fox amplifies it.

Continue Reading
 

Breaking Banner

Gay man’s family cut off his ear after he came out

Published

on

A teen man came out to his parents and in response his dad severely mutilated him, reports Gay Star News.

The 19-year-old was then locked in a closet, where he tried not to bleed to death.

The teen is from The Gambia and is trying to get asylum in The Netherlands.

“I was so afraid to tell my family about my sexuality,” he said.

“I thought, maybe, my family will accept me because I am their family. This is who I am.”

“That was the biggest mistake I ever made.”

Continue Reading
 
 
 

Copyright © 2019 Raw Story Media, Inc. PO Box 21050, Washington, D.C. 20009 | Masthead | Privacy Policy | For corrections or concerns, please email [email protected]

close-image