This short article is a response to Paul Krugman’s column Why Don’t All Jobs Matter?
“President Trump is still promising to bring back coal jobs. …. So will the Trump administration ever do anything substantive to bring back mining and manufacturing jobs? Probably not.”
Trump, a politician and a businessman (with several bankrupt companies in the past), makes a plan with a promise to bring back coal jobs and krugman doesn’t question whether the promise is the real motivation behind the plan.
As I know, to generate electricity, Coal is cheaper source than natural gas which is more imported in us than exported (net imports (imports minus exports) of natural gas equaled about 3% of U.S. natural gas consumption in 2015).
The energy independency and cheap electricity could be the real motivation behind his politics. And “bringing back jobs” can be very helpful to gain support which is highly needed to burn more dirty coal in the environment.
Then Krugman complains:
“But let me ask a different question: Why does public discussion of job loss focus so intensely on mining and manufacturing, while virtually ignoring the big declines in some service sectors?“
Answer: maybe, because there are other goals than rescuing jobs.
And Krugman’s conclusion at the end:
“But all jobs matter. And while we can’t ensure that any particular job endures, we can and should ensure that a decent life endures even when a job doesn’t.”
The real question is not whether we can ensure to keep jobs. We should not protect jobs. The economy continuously changes. And so, people lose jobs and companies goes bankrupt. But they will be replaced with new ones. It is called creative destruction (Joseph Schumpeter).
Government should not protect jobs or companies but it can help people to adapt to changes and protect the fairness during economic transformations.
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