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Blunt talk on Kerry's Economic Plans - And He's Wrong on Outsourcing (Again)

Six Nobel-winning economists seem to think John Kerry's economic plan, involving increasing taxes, is "pretty damn stupid".
Most interesting statement of the article: "When you cut tax rates, employment always goes up," said Edward Prescott, the Arizona State University professor who shared the 2004 Nobel Prize for economics.

Second most interesting statement:
Prescott also gave Bush the nod on another controversial campaign issue, dismissing Kerry's claims that outsourcing of jobs is damaging the economy.

"All the rich countries are economically integrated," he said, citing a jump in productivity and wealth in Western Europe after Germany, France and neighboring nations formed the Common Market after World War II.

By contrast, Prescott cited high tariffs imposed by the United States as a "disaster" that exacerbated the Great Depression.

"All economists are for free trade," he said.

Kerry - wrong on outsourcing, whatever the context. No wonder Massachusetts it trying to outsource him on the US.

Posted by Roger  |  19 Oct 1:15 PM
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