Tuesday, June 24, 2008

Boudreaux on Obama'nomics


According to today's Wall Street Journal, Barack Obama alleges that "Globalization and technology and automation all weaken the position of workers." If this presidential wannabe is correct, then some of the world's most prosperous workers must be the people in that newly discovered tribe in Brazil -- persons with absolutely no contact with the global economy or with modern technology. Less extreme cases, of course, include persons not so cut off from the world as these Brazilian tribes. Sub-Saharan Africans should be more prosperous than eastern Europeans, who, in turn, should be more prosperous than Americans and western Europeans.

Via Cafe Hayek. I typically reach for the earmuffs when Obama talks trade-policy (and pretty much every other topic within the realm of economics). Whether its pandering or a simple misguided distrust of markets matter not, particularly to those of whom we deny access to our markets.