Posts tagged with: trade agreements

job seekerAccording to the U.S. Department of Labor, unemployment across the country is at about 6.1 percent (here in Michigan, it’s at 7.4 percent, which puts us in the bottom 10 states.) That means a lot of folks are still struggling to find a job, or a job where they are not underemployed.

Peter Morici, an economist at the University of Maryland give 5 reasons for this. Have all the “good” jobs moved overseas? Do we need to raise the minimum wage? Are we Americans lagging behind in math and science? Here are Morici’s thoughts: (more…)

Blog author: kschmiesing
Thursday, August 10, 2006
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US News and World Report has a little feature on a drapery company that has expanded into more distant markets and thereby grown. The article identifies trade agreements and technology as paving the way for such expansion by many small, local businesses.

Decreasing tariffs and regulation and improving technology—these are examples of what economists call “lowering transaction costs,” which improves efficiency and benefits producers and consumers alike.

The US News article highlights an American business, but, even more crucially, opening international markets also helps producers in the developing world.