To ‘Save’ 800 Jobs, Donald Trump Destroys Exponentially More

(From Real Clear Markets)

President-elect Donald Trump’s allegedly heroic efforts to “persuade” Carrier Corp. to maintain manufacturing operations in Indiana have succeeded, for now. Notable here is that if President Obama or President-elect Hillary Clinton had done as Trump did, Republicans and conservatives would have been up in arms – with good reason – about their excessive use of federal power to blunt the message of the markets. But since it was a nominal Republican threatening Carrier with retaliation if it sought to maximize profits, certain members of the right lauded Trump’s meddling as a sign from the 45th president that “help is on the way.” One prominent conservative writer who should avoid economic commentary altogether cheered on Trump’s economy-sapping nostalgia as a sign of “Republicanism in new accord with the needs of the moment.” Can we please be serious?…

…This is especially interesting when we remember that for decades members of the right have knowingly explained high European unemployment as an effect of how costly it is for companies on the continent to shed non-performing workers. As the right have so correctly put it, “you can’t hire workers if you can’t fire them.” Ok, but the same applies to the United States and the formation of companies right here. If businesses can’t relocate out of the U.S., it’s less likely that they’ll locate here in the first place. If you can’t fire an errant country, you’re less likely to hire it to begin with. Members of the right who should know better talk up the 800 jobs Trump allegedly “saved,” but in their frightening willingness to excuse the most egregious acts of government so long as the person executing them has an R next to his name, they ignore the exponentially bigger number of jobs that will never be created in a United States that Trump is trying to turn into the proverbial Roach Motel. If investors can’t leave the U.S., they won’t enter the U.S.

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