Trade Deficits and Manufacturing


Ben S. Bernanke, “The Level of Economic Well Being” (remarks by Chairman Ben S. Bernanke before the Greater Omaha Chamber of Commerce in Omaha, Nebraska, February 6, 2007) Bernanke disussed the rising income inequality within the United States but dismisses the trade deficits as an important cause.


Robert A. Blecker, “Economy at Risk: The Growing U.S. Trade Deficit,” (Statement presented at AFL-CIO/USBIC Conference Trade Summit 2006: Crisis and Opportunity, July 12, 2006). In this speech Blecker discusses the interaction between the strong dollar and US manufacturing investment.


Erica L. Groshen, Bart Hobijn, and Margaret M. McConnell, “U.S. Jobs Gained and Lost Through Trade: A Net Measure,” Current Issues in Economics and Finance 11 (2005). Estimates the number of jobs lost as a result of trade deficits: roughly 20 percent of the US manufacturing workforce. By 2006, this had grown to 25 percent of the current workforce.


Raymond L. Richman, "Bad trade," Pittsburgh Tribune Review (December 14, 2006). Raymond L. Richman disputes an earlier column by distinguished economist Donald Boudreaux which claimed that the purported decline in manufacturing jobs due to trade is due to bad statistics.


US Department of Labor, Bureau of Labor Statistics, Office of Productivity and Technology, Comparative Civilian Labor Force Statistics, Ten Countries, 1960-2006 (March 19, 2007.Comparative statistics from which manufacturing employment as a percentage of the civilian workforce can be computed.



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