RokStories

James A. Dorn




James A. Dorn is Vice President for Monetary Studies and Senior Fellow at the Cato Institute. His articles have appeared in The Wall Street Journal, Financial Times and South China Morning Post. He has testified before the U.S.-China Security Review Commission and the Congressional-Executive Commission on China.

James is the Vice President for CATO academic affairs, editor of the Cato Journal, and director of Cato's annual monetary conference. His research interests include trade and human rights, economic reform in China, and the future of money.

www.cato.org

Author Article List



American Capitalism, Character and Constitution Ensure a Bright Tomorrow

As we enter 2011, the American public is not feeling good about the future. According to a 2010 year-end Rasmussen Reports survey, a provider of public opinion polling information, only 31 percent of respondents said the country was headed in the right direction. A second December survey indicated that Americans were less optimistic about 2011 than any previous year since the question was first asked seven years ago.

This is understandable. The U.S. economic recovery is not vibrant enough to support job growth necessary to dent unemployment, which hovers near 10 percent. Although the short term outlook is less than stellar, the future of America is.

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Decline in Manufacturing Jobs Is Primarily Due to Technology

Manufacturing employment has fallen by one-third over the past decade. Some Members of Congress contend that foreign trade has allowed American employers to offshore these jobs. In fact, technology has driven down manufacturing employment and computers have made manufacturers more productive by automating many routine tasks.

American manufacturers now employ fewer workers to produce more goods. This means less expensive goods, more manufacturing jobs for highly skilled workers, and the elimination of millions of low-skill assembly line positions. These same forces have reduced manufacturing employment around the world. Increased productivity led Chinese employers to eliminate millions of manufacturing jobs in the late 1990s.

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The Public is Routinely Misinformed about Trade

A recent " Street Journal" headline screamed: “Americans Sour on Trade.” And why shouldn’t they? After all, the public is routinely bombarded with misleading or simplistic trade coverage that too often relies on cliché, innuendo and regurgitated conventional wisdom: it’s Team America versus the world. Without the war metaphor, trade is just a peaceful, mutually enriching endeavor between consenting parties. But that’s too boring.

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Rough Road Ahead: Today’s Post-Recession Realities and Global Trends Require New Business Strategies

Today’s post-recessionary economic realities combined with dynamic global trends are impacting virtually every aspect of our lives—and certainly the profitability of our businesses. Unless organizations understand the following five realities and adapt, succeeding in the years ahead will be extremely difficult.

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