Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Friday, December 16, 2005

Menzie Chinn says that it does. When the U.S. current account deficit shrinks, it will have to shrink accompanied by an increase in manufacturing employment, because manufactures are the easiest goods to export and also are substitutes for imports. Manufacturing employment has gotten hammered to an unbelievable degree in the Bush era:



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