Word: hufbauer
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Dates: during 2000-2009
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...more jobs than it created, according to a study by the Peterson Institute for International Economics in Washington. Although it focuses on iron and steel provisions, the "buy American" clause would save just 1,000 U.S. jobs because steel is very capital intensive, the study's authors Gary Hufbauer and Jeffrey Schott say. "In the giant U.S. economy, with a labor force of roughly 140 million people, 1,000 jobs or less is a very small number," they wrote. That number, they contend, would be exceeded by the jobs that would then be lost if other countries emulate U.S. policies...
...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...