Lou Dobbs Calls Economists "Jackasses"

I understand simple increases in supply, but you totally ignore the benefit to consumers. The fact that increased production is what raises living standards can be varified historically.You also ignore that why the worker entering the country may still be in poverty, he is better off or he WOULD NOT BE COMING TO THE OTHER COUNTRY. Countries with alot of poverty are typically rely on substience farming, this requires them to have alot of kids, THAT is why their population is so high.

I agree that the person entering let's say the US would be better off than staying in his povertyridden country. However, the reason why third world countries are so poor today and why people flee is for a great part because of population explosion.

The formula remains true: more workers, worse working condition... and less workers, better working conditions.

Subsistence farming doesn't result in population growth. It's the lowering CHILD MORTALITY that results in population growth.

Yeah, the millions of unemployed Americans are buying those cheap products now! LOL

Yes... workers won't lower their wages allowing them to be employed. It's important that everyone is better off in this arrangement. China is making goods, which frees up labor to do other things. Imagine if things like this never happened. 90% of the population would still be growing food! Think how much worse off we'd be!

I do not think he came off as dumb at all. I agree with him. Most economist put making money ahead of ethics and morality. Open borders and job outsourcing are monstrous abuses of out free market economy. I support capitalism because it is that fairest and most successful economic system in history. However, it can be abused and certain rules need to be put in place to prevent those abuses (outsourcing, open borders, trade deficits, etc.).

(our not out)Our free market economy. I apologize for the misspelling.

it is always about slavery and how much you gotta pay em'. dobbs wants the truth about stuff. that is the marble that knocks around. lou and the rest of us are just being mislead and lied to.

Dobbs is trying to simplify economics and if one listens to him you can hear him even contradict himself. If it were as simple as he is making it there would be no need for the argument of immigration or no immigration. Lou is a good guy but he has lost it.

Free Markets are NEVER free. Nothing is free. In a "FREE" Market there are winners and Losers. FREE FOR ALL doesn't exist and never did. Protectionist Markets also never win, why? Protecting your failed businesses never leads to a productive society. You need a Balance..You need to be open, but secured to survive, what is very difficult in our society. Not one society/nation has survived on FREE MARKETS and Wide open Borders (Rome) nor Protectionism (USSR).

OPEN BORDERS=WILD WEST TERRITORY= destruction of a nation. Borders need to be open but secured. We need to know who gets in and out. If we don't do that but just keep it WIDE OPEN, we become a wild west territory.