Lou Dobbs is an idiot, deal with it
I have never blamed the poor of Mexico, China or India for corporate America's avarice and our political elites' cowardice.
All that is wrong with Lou Dobbs is captured in this quote. He would like to believe what he said, and his intentions I'm sure are quite honarable, but as the late Milton Friedman said, "One of the great mistakes is to judge policies and programmes by their intentions rather than their results."
Trade restrictions are bad, bad, bad for the poor of Mexico, China and India. They are bad, bad, bad for American consumers who have to pay more for Mexican, Chinese and Indian goods. In fact, trade restrictions only help "dominant special interests" like trade unions and low-productivity industries.
Its ironic that Dobbs would lament "our political elites' cowardice" and then advocate giving those political elite more power over the economy. We should reward their cowardice by allowing them to decide which industries get protection and which special interests get 'subsidies'?
No, we should judge policies by their results not their intentions. Trade protection results in more poverty and an empowerment of already entrenched powers. Protection in its effect, not its intention, is an unmitigated bad.
And Lou, We The People established the Constitution in part as a check on populist whim. We wouldn't need a Constitution if the knee-jerk reactions of the people was always sovereign.
Milton Friedman RIP
"One of the great mistakes is to judge policies and programmes by their intentions rather than their results." -- Milton Friedman
Interesting Abu Ghraib timeline I wasn't aware of...
The General in charge of prisons in Iraq when prisoner abuse occured in Abu Ghraib
was admonished, and stripped of rank, for the abuse found there *four* months before the abuses were first exposed by the media.
General Karpinski was issued a Memorandum of Admonishment by LTG Sanchez, Commander, CJTF-7, on 17 January 2004.
The story broke late April of that year.
UC Davis Econ in the news
Prof. Clark's book
is getting more attention from Marginal Revolution
. Links and more commentary from EconLog
and Cafe Hayek
I heart economists, part 5
Similarly, psychologists have found that male subjects, immediately after watching pornography, are more likely to express misogynistic attitudes. But as professor Kendall points out, we need to be clear on what those experiments are testing: They are testing the effects of watching pornography in a controlled laboratory setting under the eyes of a researcher. The experience of viewing porn on the Internet, in the privacy of one's own room, typically culminates in a slightly messier but far more satisfying experience—an experience that could plausibly tamp down some of the same aggressions that the pornus interruptus of the laboratory tends to stir up.
-- Steve Landsburg
describing Prof. Kendall
's research on violence and media