ARC's 1st Law: As a "progressive" online discussion grows longer, the probability of a nefarious reference to Karl Rove approaches one

Sunday, January 21, 2007

Sen Dorgan - Helmet Head from North Dakota

And when I refer to Dorgan as Helmet Head, it's not just a jab at his apparent helmet of hair atop his dome, but his apparent inability to absorb the realities of the global economy - an economy in which the US is the leader.

Don Boudreaux of Cafe Hayek has this excellent post on Dorgan's idiocy. It's a must read.

Don also qoutes a response from Dan Griswold from the Cato Institute which is a total slam:

[...] the Cato Institute's Dan Griswold has Dorgan's number. For example, discussing Sen. Dorgan's book on trade, Dan writes that:
As a nation grows wealthier, the share of the workforce in agriculture invariably falls and the share in the service sector rises. The share in manufacturing typically rises and then falls. According to the World Bank, countries with the lowest share of the work force in the service sector include Uganda, Vietnam, Romania, Sri Lanka, Indonesia, and Mongolia. Countries with the highest share in the service sector include, along with the United States, Sweden, Switzerland, Canada, Hong Kong, Japan, and Luxembourg. The first group is among the poorest nations, the second among the richest. Apparently one goal of Dorganomics would be to shift America from the rich group to the poor group.

In a typical flourish of hyperbole, the senator warns that “our manufacturing base is shrinking.” But here the senator confuses jobs with output. America’s manufacturing base has been both growing and changing. American factories are producing more aircraft and pharmaceuticals, more sophisticated machinery and semiconductors, more chemicals and even more passenger vehicles and parts than a decade ago. In fact, America’s factories are currently cranking out 50 percent more stuff by volume than they did in the early 1990s, before NAFTA and the World Trade Organization came into being. They can produce more with fewer workers because manufacturing productivity has been growing so rapidly.
This is an instructive point. As our country has grown richer - and there is no doubt that we are the richest economy in the world, thanks to the rule of law and our economic liberalism - there has been a steady shift in the nature of that economy.

That political leaders - and idiots like Ross Perot - decry the change in our economy either demonstrates their inability to grasp economic realities or their willingness to play on the fears of a public that is under-equipped to deal with the new reality.

Your Co-Conspirator,
ARC: St Wendeler