You didn’t need a college degree or certification. ![]() If you lost your job in agriculture, it would be relatively easy to transition to working in manufacturing. But back then, most workers were what we would call low-skilled. People like to make comparisons to other periods of industrialization to argue that these groups will be better off. In fact, given the dynamics of today’s economy, there are reasons to think that they could be worse, unless additional interventions were made to alleviate the pain. ![]() There’s nothing in the theory of trade, automation and immigration that implies that future generations of the affected workers will necessarily be better off. I have to agree with Borjas on the point that the argument that the children and grandchildren of those who were hurt by trade and immigration will be better off is more of an ideological argument than a factual.
0 Comments
Leave a Reply. |