10/26/11

• Mechanization/outsourcing really only occurs with the inferior jobs
• Every month in the US, 4 million jobs are created countered by 4 million being destroyed
• Self-sufficiency is the road to poverty
• Trade doesn't cause jobs; it merely changes the type of jobs in the industry
• Trade Deficit = imports > exports
• Trade Deficit = exports > imports
• Myth: America doesn't make anything anymore
• jobs must complement capital
• labor and capital can't be substitutes
• machines can't do everything labor can do (unless the singularity happens)