Not Funny
18 April 2007
Editor, The Boston Globe
To the Editor:
Dan Wasserman's cartoon shows economists "reexamining" their support of globalization when they notice the low "pay scale of economists in India" (April 18).
Overlooking his gratuitous presumption that economists are rogues, I direct Mr. Wasserman's attention to an April 6th report in the Globe entitled "India High-Tech Industry Out of Workers." He'll learn there that wages earned by skilled Indian workers are rising. This fact lends yet more credence to economists' prediction that as low-wage countries become wealthier through trade, wages in those countries rise. This fact means that workers in wealthy countries have much less to fear from globalization than the likes of Lou Dobbs and some political cartoonists would have us believe.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Editor, The Boston Globe
To the Editor:
Dan Wasserman's cartoon shows economists "reexamining" their support of globalization when they notice the low "pay scale of economists in India" (April 18).
Overlooking his gratuitous presumption that economists are rogues, I direct Mr. Wasserman's attention to an April 6th report in the Globe entitled "India High-Tech Industry Out of Workers." He'll learn there that wages earned by skilled Indian workers are rising. This fact lends yet more credence to economists' prediction that as low-wage countries become wealthier through trade, wages in those countries rise. This fact means that workers in wealthy countries have much less to fear from globalization than the likes of Lou Dobbs and some political cartoonists would have us believe.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Monday November 26, 2007 at 1:06pm