Saving Jobs is Destroying the Economy

by Walter E. Block, Ph.D.
The Daily Bell

It is now just past the one year anniversary of General Motors’ plant closures in U.S. and Canada. Perhaps it is time to take stock.

Donald Trump was not at all happy with GM’s behavior. It is no exaggeration to say this decision aroused his fury. Some 15,000 motor vehicle manufacturing jobs had been lost. In Mr. Trump’s view, this decision would harm the economy.

Ominously, he opined: “The President has great power on this issue.” And: “Because of the G.M. event, it is being studied now!” This comes in the train of a Trump Administration study regarding the feasibility of a 25% tariff on the importation of automobiles.

But this outrage at GM came with ill grace from the president since these closings were, to a significant degree, the result of one of his prior policies.

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