tag:blogger.com,1999:blog-4409551172339639840.post8855342244825530002..comments2023-10-11T09:06:30.060-07:00Comments on Douglas L. Campbell: The Myth and Reality of Manufacturing in AmericaDoug Campbell http://www.blogger.com/profile/11028049845008665877noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4409551172339639840.post-26820551291972292642017-07-19T11:20:10.688-07:002017-07-19T11:20:10.688-07:00The real counterfactual they should be looking at ...The real counterfactual they should be looking at is what US mfg output would be if there was no trade deficit. As long as output keeps pace with productivity, there is no job loss. By Hicks's own figure of $150K/mfg job, an $800B goods trade deficit = over 5 million jobs lost (not counting multiplier effects). IOW, trade deficit can account for practically all the job losses.Warren Plattshttps://www.blogger.com/profile/14166267641435230047noreply@blogger.com