Satire?
20 February 2007
Editor, Business Week
To the Editor:
Surely economist "Vladimir Masch" - author of "A Radical Plan to Manage Globalization" (Feb. 14) - is the nom de plume of a satirist.
No one REALLY believes that free trade is the right-wing equivalent of the Soviet Union, a regime that routinely murdered millions of its citizens and crushed the rest into poverty. No economist SERIOUSLY suggests that for every job created in firms that export to the U.S. the number of jobs in the U.S. falls permanently by one. No one with enough expertise to write an essay on globalization for Business Week can TRULY be unaware that the per-capita foreign direct investment currently going to China is a mere seven percent of the per-capita foreign direct investment coming to the U.S. - a pattern of investment wholly at odds with Dr. "Masch’s" thesis that free trade encourages capital to flee to low-wage countries such as China until ordinary Americans are impoverished.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Editor, Business Week
To the Editor:
Surely economist "Vladimir Masch" - author of "A Radical Plan to Manage Globalization" (Feb. 14) - is the nom de plume of a satirist.
No one REALLY believes that free trade is the right-wing equivalent of the Soviet Union, a regime that routinely murdered millions of its citizens and crushed the rest into poverty. No economist SERIOUSLY suggests that for every job created in firms that export to the U.S. the number of jobs in the U.S. falls permanently by one. No one with enough expertise to write an essay on globalization for Business Week can TRULY be unaware that the per-capita foreign direct investment currently going to China is a mere seven percent of the per-capita foreign direct investment coming to the U.S. - a pattern of investment wholly at odds with Dr. "Masch’s" thesis that free trade encourages capital to flee to low-wage countries such as China until ordinary Americans are impoverished.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Tuesday October 23, 2007 at 6:30am