Featuring Daniel Griswold, Associate Director, Center for Trade Policy Studies Cato Institute.
Fears about “outsourcing” and chronic job shortages are widespread on Capitol Hill and in the news media. Those fears have been aggravated by an economic expansion that has been slow to create new jobs. Job losses are always painful, but it is important to remember that, even in good times, they are an inescapable fact of life in a dynamic market economy. New research from the Cato Institute shows that international trade, including foreign “outsourcing,” contributes only modestly to the frenetic job churning in the U.S. economy. A trade expert from the Cato Institute will discuss job losses and trade and how calls for new trade restrictions to protect current jobs could backfire.