Thinking Beyond Stage One
Tue, 2016-07-05 21:15 News Staff
By Walter E.Williams
A recent ruling by the U.S. Department of Commerce dramatically increased tariffs on some Chinese steel products, such as cold-rolled steel, which is used to make appliances, cars and electric motors. Tariffs were raised by 500 percent on some other Chinese steel products. President Barack Obama and the major 2016 presidential aspirants, particularly Donald Trump, believe this measure will protect jobs in the U.S. steel industry. There is no doubt that steel industry jobs will be saved. But there is an ignorance and/or incapacity of being able to think beyond stage one when evaluating public policy. Measures to protect steelworker jobs pay attention to only the seen effects of public policy; they ignore the unseen. In other words, they look at only the visible beneficiaries of public policy and ignore the invisible victims.