Morici's 'hypocrite capitalism' on display

Regarding Peter Morici's recent commentary about dealing with Chinese trade practices ("China currency bill: America fights back," Oct. 11), it would be easy to point out the many economic flaws with Mr. Morici's argument. To give just one example, it's not clear that an increasing value of the yuan will lead to more U.S. jobs because a significant portion of U.S. imports from China are inputs for things that are produced here in the U.S. Making imported inputs from China more expensive might actually reduce employment here.

However, when Mr. Morici is not bemoaning the "surging subsidized imports from China," he appears in television commercials for Kyocera copiers which are manufactured at a plant in China and two in Japan (another country with which the U.S. runs one of those awful trade deficit thingies). So, while President Barack Obama may typify "food co-op capitalism" and Speaker John Boehner may exemplify "knickers era capitalism," whatever they may be, Mr. Morici seems to practice "hypocrite capitalism." Perhaps Mr. Morici's next column can explain why pitching Chinese made copiers doesn't contribute to "destroying more American jobs than the mortgage crisis, too much business regulation and high health care costs combined," the ills that he claims result from Americans' trade with China.

E. Frank Stephenson, Mount Berry, Ga.

The writer is professor of economics at Berry College.

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