“Jobs” as a Red Herring: The Dangers of Make-Work Bias”, by Nathan Goodman

In the ongoing debate over the crony capitalist “Export-Import” bank, job statistics get thrown around a lot. On its website, the bank boasts that “Ex-Im Bank’s mission is American jobs,” claiming to have “supported 1.2 million private-sector, American jobs since 2009, supporting 205,000 jobs in 2013 alone.” Economist Veronique de Rugy points out that these job numbers…