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From: Bart Croughs
You haven't answered this question yet. I don't claim that the U.S. is worse off when US capital moves abroad. I only ask: how can you proof that the US isn't worse off when US capital moves abroad?
I recall you were interested in how the Austrians would answer this. I think that they would object to the question because of their aversion to aggregates. Some individuals are better off and some worse off. The Austrians would deny that you can sum the results for individuals and get a result for the economy as a whole. This is because of Austrian subjectivity. Assume that I move a programming job to India, and make the required capital investments. I am presumably better off (otherwise I wouldn't have moved the capital). The worker I fire here in the US is worse off. (Other effects you have mentioned go here). Now, considering only me and the laid off worker, is this change overall good or bad? To answer this, you would have to compare the value of my gain to the value of the workers loss. But you can't. Value is subjective. And, it only gets harder when you try to take into account the other people affected. P.S. Bart, your quotes of other people are hard to follow. -----BEGIN PGP SIGNATURE----- Version: 2.6.3a Charset: noconv iQCVAwUBMhObE97xoXfnt4lpAQEU2AQAtllFg2gajiVhZqQoEJ5+yP9JvalU6ZiZ MD0L8CB+P04r0ICHrP2uhj40IUj2MTrb62JcHqKjrW5QU/51u+F4OfAryB4uHivH qz3WiAbscQgZTOf/zRyU7hBCSxQkYE/CZeDPjXPs8++6a0TvmJTlNp9KpJ1wIwgz eGgkhKQoaPY= =6ytQ -----END PGP SIGNATURE----- -------------------- Scott McGuire <svmcguir@syr.edu> PGP key available at http://web.syr.edu/~svmcguir