TrueValueMetrics ... Impact Accounting for the 21st Century

Date: 2025-08-21 Page is: DBtxt003.php txt00028071

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SECTION 11
RICHARD WOLFF ON DONALD TRUMP'S
CONTRADICTIONS ABOUT IMMIGRATION\
Version 1 ... February 2025

deporting immigrants in Sonia you know the secondary consequences here ought to
make any rational government
stop and the fact that this government isn't stopping well draw the
conclusion let me try to illustrate the the contradictions

1:20:10

Richard on Donald Trump’s Contradictions About Immigration

internal craziness of what is being proposed and I'm going to do that in two
ways I'm going to use what we in economics call supply and demand
analysis I'm very simple-minded uh approach we teach students as a
beginning to understanding economics and then I'm going to also use the marxian economics idea of
surplus which gives you insights that the supply and demand apparatus uh
doesn't Okay the President
says and has already in the first weeks of his administ rtion Illustrated
dramatically that he is going to deport

1:21:04
undocumented immigrants of which the Homeland
Security Department of this country says we have somewhere around 12 million 10
to 15 million somewhere in there okay let's take a look at what
this might mean mostly these are undocumented
immigrants are young people of working age yes some of them bring children when
they come but most don't and some of them bring their elderly but most
don't these are young men and women who can travel through the desert and take
the hardships that are involved in coming here for many
so they arrive here and they take the worst

1:22:05
jobs and by worse jobs I don't just mean those that are poorly paid although
that's the majority of them I mean jobs that are
dangerous jobs that are irregular jobs for
employers that are highly unscrupulous much of the
time and the reason they have those jobs is because unlike a native born worker
they will never go to the police to complain if they're made to work without
protective gear or they're made to work too many hours or they are made to work
without being given the pay that they were promised or when they undertook the job employers know that they can get
away with this cuz they've been doing that forever for time in Memorial which

1:23:06
means that the The Immigrant is particularly profitable as
an employee because you can rip them off basically and that's one of the reasons
that the United States has always welcomed employees because the employers
knew you could do things with them you couldn't otherwise I could go on you also cram
these people into the worst neighborhoods with the lousiest housing again because they cannot and
will not complain they will not demand what is
legally available to them for fear that it will blow their cover and they will
be hassled by the police the police don't treat them very well again for the
same reasons and so on so I'm not going to mention what it

1:24:05
means to Target these people many of whom have spent years at
the bottom of the jobs pyramid in the United States what it means exactly ethically
or morally to pick them up off the
street put them in shackles which is being done now and dropping them in
Mexico or Colombia or wherever you you can impose that there how this
squares with Christian Jewish Muslim or any other
religious system I know of I leave to the mysteries of our human beings are
are religious uh extraordinary but I'm not going to focus on that here's the supply

1:25:02
and demand you are reducing the supply
of labor you're literally taking people who had offered and delivered labor effort
brains and muscles eight hours a day or more across the United States millions
of them are being withdrawn from the labor market so the supply of workers is
being cut you know if you're G to get rid of 10 million people it's going to make an
impact on the other hand you're going to impose
tariffs meaning that Goods produced
abroad will no longer purchased by Americans because they become more
expensive Mr Trump has said and by the time this airs he may well have imposed

1:26:05
25% tariffs on both Canadian and Mexican goods and again I'm not that's what he
said and and he had he had promised to do that earlier so did it
consistent um that violates the treaties that were initially signed by
Mr Clinton the NAFTA and then Rewritten and resigned by Trump himself in his first
presidency with a new name but it's basically a common market between the United States Canada of the north Mexico
to the South and it meant it meant that Goods could move between them without
tax no tax being applied by any of the three countries to any of the other he's
abrogating that he's not having a conference to discuss it he's not having meetings with the leadership to talk he

1:27:02
unilaterally abrogating which is the politest way you can put this violating
would be another term this treaty with our two
neighbors interesting move MH I'm not going to talk about that I'm going to assume it goes through in one form or
another the United States is the major market for both of those
countries therefore this is a big blow to them because they're going to see the
demand for their exports to the United States drop because an American has to
pay his own government the American government the Tariff the tax and that makes it more expensive in the matter I
just went through with the electric car from China so it's gonna hurt them and
and Mr Trump never discusses the hurt done to
them deals with them as if they're bad bad people and says this is all done because

1:28:04
they allow fentel to come for through their countries into the United States
notice the bad guy is the one who allows the the movement not the country to which the
movement is directed because Americans buy and consume that stuff on a record
level nope none of that interesting no Mr Trump
says it's also he admits to resore America right because if it's too
expensive to bring the OB object from Canada in or from Mexico in the hope is
the Hope is that the producer will come back to the United
States make it inside because then there's no tariff it's applicable all right I'm not going to
discuss the obvious and I'm glad you're smiling because it really is childishly obvious

1:29:07
that a a producer in Canada or Mexico
would be nuts to come here right away because he doesn't know how long Mr
Trump will stay with this policy he doesn't know whether it'll Disappear With when Mr Trump disappear appears so
and it's very expensive so we also don't know whether the company affected like this will leave
Mexico and go across its Southern border into Guatemala another place which doesn't have a tariff but then it can't
risk doing that because Mr Trump will put the Tariff on against Guatemalan
Goods so let's assume that some some reassuring takes by some
companies at the margin will come in to the United States and produce here at

1:30:00
home the ostensible goal and purpose of all of this that would mean an increase in the
demand for labor because those companies instead of hiring Mexican and Canadian
workers by coming back would be hiring American War which is the ostensible
purpose okay let supply of labor is going down and the demand for labor is
going up what is that supposed to do with demand and Supply analysis answer
it's going to raise wages a lot why because you can't rip
off American Born workers the way you rip the so you're going to have to pay
wages you never thought you'd have to so wages will go up in the United

1:31:00
States whoa now let's take it two more steps and we're
done why would capitalists Across America who supported mys
Trump welcome that the cost of Labor is
going up and eating into their profits see
contradiction but we're not done because when Mr Trump imposes a tariff one of
the results the textbooks are full of this is called
retaliation other countries can put tariffs just like we can which means
American companies who export are going to have the same problem they're not
going to have a market the way they used to because the other the countries retaliate they put a tariff on goods
from America and they and they've said it if you take if you tariff us we will

1:32:01
retaliate so the companies will have higher wages to pay and why they can't
sell the way they used to that's a onew punch right in the nose of the employer
class they're the ones who gave him the job that's not his job in their minds
how's he going to handle what I just described what what not only that but if
you put a tariff and the prices go up what the literature teaches is that
the protected companies the ones who like it that you put a tariffs so your Canadian competitor can't compete with
you anymore and your Mexican competitor can't what you induce the American say
great I ra my prices cuz even if I raise them 10% they've stuck the Canadians
with 25% tariff everyone's going to have to pay me my 10% more because still

1:33:01
better than the alternative they can get you know what that means they're going to get an
inflation is it possible that other things which I don't have the time but I if you want to we can go there that
other things will neutralize what I just said that's possible that's what I meant by a Hail Mary pass what he's doing is
ridiculous economically and so maybe his rejoiner
or someone who's smarter than him might be able to do is to say yes but if this
this and this and this happen well that and that's possible it's always possible
it's not the logical thing to expect and to expect it from someone who
never mentions any of these things even though as I hope I've showed you they're
as simple as I apple pie there are no mystery here there's nothing complicated
and the literature about these things is full of all of this not a word of what I
just said with to you is original to me not at all so all I can tell you is with this
level of contradiction at the basis of what is being proposed here you're
looking at a really strange phenomena unfolding

The Marxist Truth About Why Immigrants Are a Gift to the United States

1:34:24
now let me show you from another from a marxian economics perspective another remarkable thing
which also touches American history and which I'm really interested in conveying