Can you believe that on Dec 11, 2003, Federal Reserve Chairman Alan Greenspan actually said that the theory that free trade hurt jobs was not true, because it isn't imports that hurt jobs, it is a lack of capital(business) investment and soft exports.
Mr. Greenspan is obviously trying to snow his Texas audience, for if Capital is rational, and can purchase cheaper labor overseas, it won't invest in American business, but overseas business, resulting in more imports and fewer exports.
Chairman Greenspan is one of the wisest men, mostly becaue of his access to and understanding of economic data and models (the Fed's budget includes tons of money for financial modellers and data miners and the like).
However, Greenspan is basically a hyper Capitalist, and I loathe him. At every turn, economic freedom is more important to him than political freedom. The penalty for that, of course, should be jail time (a jail where you are free to engage in economic activity, of course ;)
I just read about Cyprus in the 17th century... the Governor would buy his Governorship from the Ottoman Empire, then try to recoup the losses via taxes. Isn't that the Libertarian Dream? Aren't markets more efficient at allocating scarce resources (e.g. good leaders) than any other system known to humankind? Of course not, you stupid Libertarian shits.