Since POTUS is busy lying about NAFTA costing the US "thousands of businesses and millions of jobs," I'd like to remind everyone the real cause of manufacturing job loss is automation, not trade. Harder to demagogue, but ultimately a bigger problem. Check out this graph: 1/x
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Red (output) and blue (employment) both drop during recessions (shaded areas). Notice how red bounces back, but blue stays low? That's mostly businesses firing people during recessions and replacing them with robots, rather than rehiring them or refilling their positions. 5/xpic.twitter.com/hYx1vaLqy7
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Automation is a long-term socioeconomic problem, with robots taking an increasing number of better-paying jobs. But robots are hard to scapegoat. Foreigners aren't. And no one prioritizes scapegoating foreigners over long-term economic development more than the president. (END)
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