Reply #22: Further proof that most economists have no idea what the real world looks like [View All]

[markbark]

Further proof that most economists have no idea what the real world looks like
Quote - "A carburetor bought for $50 in China as a component of an American-made car, for example, more often than not shows up in the statistics as if it were the American-made version valued at, say, $100."
There hasn't been a carburetor installed in a new car in the last fifteen years. Perhaps if they were talking about computer controlled fuel injection systems they would have a little more credibility.
The US manufacturing base started its die off in the 80's under Reagan and Bush I and shuffled off its mortal coil under Dubya.
To avoid imports one must first have a manufacturing base, no?
That's not to say that things are not made in America any more.
Unfortunately the thing that we're making the most these days is "shit up"

--MAB

PS re-reading this before posting. If you detect snarkyness/anger, please take that as directed against the NY times, NOT Celebration, thx.