AllFinancialMatters

A personal finance blog dedicated discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance.

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Saturday, January 29, 2005

Should We Save Jobs?

There has been a lot of talk about jobs and outsourcing lately. I thought this piece by Walter Williams was interesting. I thought this portion of the article was interesting:

"Let's look at some of the history of job loss described in Bradley's article. We might also ponder whether measures should have been taken to save these jobs. In 1858, Lyman Blake patented a shoemaking machine that ultimately destroyed jobs hand making shoes. In 1919, General Motors started selling Frigidaire. As Bradley says, "This 'electric ice box' wiped out a whole set of occupations, including ice-box manufacturers, ice gatherers, and the manufacturers of the tools and equipment needed to handle large blocks of ice.""

You won't find Mr. Williams' view espoused by the media. Anyway, this article is worth a read.

JLP