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If I were to start Chris's Italian American bakery I'm likely taking some business away from Patel's Pure Ghee Sweets and possibly reducing the number of jobs h
by yummyfajitas 12y ago
If I were to start Chris's Italian American bakery I'm likely taking some business away from Patel's Pure Ghee Sweets and possibly reducing the number of jobs he creates. So while I've generated 5 gross jobs, it's unclear that I generated any net jobs.
(For the record I think "new jobs" is a moronic reason to do anything. A job is a cost, delicious rainbow cookies are the benefit.)
- kasey_junk 12y agoCompletely agree with all of that. But that is the standard reductionist argument.
- anigbrowl 12y agoThis is true to the extent that different goods are economic substitutes for each other. But even if they are perfect substitutes and no net jobs are created, increased competition would reduce prices for consumers, resulting in a net aggregate economic benefit. I also think 'jobs' is a moronic reason to do things but immigration policy, more than most, is the focus of atavistic political passions rather than rational economic analysis.