If you ever doubted that our politicians really know nothing about economics, you must watch this video from Rep. Jesse Jackson Jr (D-IL) who blasts Apple and Steve Jobs for killing American jobs with the iPad.
It’s simple: Because everyone can download books and newspapers, everyone who works at bookstores (he notes Borders going out of business) or the publishing industry, or for textbooks, will lose their jobs to the people making iPads in China.
Obviously he ignores all the wealth the iPad has created in America, and the fact that there are all kinds of other jobs that have been created around the iPad, and he ignores that just about every single technological innovation in the world has experienced a similar dynamic.
it feels silly to even bother refuting this. Just watch the video, via Real Clear Politics.
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