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Misunderstanding unemployment.(Letters To The Editor)(Letter to the Editor)
As a longtime TNA reader, I have to take issue with Professor Hans Sennholz ("Understanding Unemployment," November 17 issue).
First of all, I have little faith in anyone writing on the manufacturing economy, if they haven't served a machinist apprenticeship and worked up through the ranks to company president as I have. I keep in my file a withdrawal card from the UAW that helps me remember my beginnings.
Back in the 1950s, when I served my apprenticeship, there were tariffs that protected our market from foreign dumping. Now we have obviously institutionalized this practice.
"The free and unhampered labor market knows no mass unemployment," the professor says. Sounds like something from Karl Marx!
We need to think of tariffs as we think of our company bowling team. We have mostly 140 to 160 average bowlers. If it weren't for the handicap system, we might lose every game to the industrial league teams with the most 200 average bowlers; this is our tariff. The professor is on, about unemployment compensation, product liability, healthcare, workman's comp, and OSHA regulations built into our costs.
"There is ...
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