Richard Epstein warns of the dangers of Donald Trump’s position on international trade, and considers controversies about trade deficits, the border adjustment tax, and job losses due to automation.

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  1. Ralphie Member

    Richard reminded me of Edward Banfield, who wrote in “The Unheavenly Cities” that the problem of unemployment was not due to automation, but supply and demand. He wrote this in the 70s, about 50 years ago, and I think what he said is still true. Some automation eliminates the skilled as much as the unskilled jobs. Some automation allows lower skilled workers to do the tasks higher skilled workers used to do. We toured the Louisivlle bat company, and they demonstrated how they used to make bats with a lathe and a chisel, then showed us how CNC machines make them now. the wood burning and dipping was still fairly laborious.

    • #1
    • March 15, 2017, at 3:21 AM PST
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