Word: goodrich
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Dates: during 2000-2009
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...saved: 8,900--at a cost of $451,509 for each protected steelmaking job. Independent analysts agree that the net job loss could number in the tens of thousands. "No matter what Bush decides in terms of a trade remedy, he'll impose more costs than benefits," says Ben Goodrich, an economist with the Institute for International Economics in Washington...
...mills and their unions have used artificially high steel prices as an invitation to pocket more in profits, pay and benefits than their competitors abroad--or their customers at home--have done. "Between 1972 and 1981, when import controls were severe, steel wages rose 179% while productivity declined," Goodrich and Gary Hufbauer, also an economist with the Institute for International Economics, wrote in a policy brief last month...