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Tuesday, September 23, 2003

Steel Tariffs and Krugman

Brad DeLong has a few goodies. First he exposes the ITC steel report for the dishonest trash that it is and asks the Wall Street Journal for better coverage:

"From March 2001 to March 2002--the year before the tariffs--real GDP grew by 1.0% and the unemployment rate rose from 4.2% to 5.6%. From March 2002 to March 2003--the year after the tariffs--real GDP grew by 2.2% and the unemployment rate only crept up from 5.6% to 5.7%.

"Do you think that the unfavorable macroeconomic conditions--the 'recession,' it is called--in the year before the tariffs had something to do with steel-user job losses in that year? If so, you're a lot smarter (or at least a lot more honest) than the hacks who write reports for the International Trade Commission."

Via DeLong I also see that Paul Krugman is excited over his #4 showing on the NYT bestseller list.