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"Globalization" has probably benefitted most of the people in the US, which is why most people like it. It has cost some jobs but it has also created other jobs
by tdb7893 9y ago
"Globalization" has probably benefitted most of the people in the US, which is why most people like it. It has cost some jobs but it has also created other jobs and gotten us access to much cheaper goods and in balance is probably good overall (at least for me personally). It's probably to blame for some employment issues but for most of America employment is decently high and manufacturing (and also stuff like coal mining) jobs would probably be on the decline with or without globalization.
- DeonPenny 9y agoNo, I don't believe it does. I keep seeing this comment and it never made sense because the promise of globalization was that it would drive down prices because of cheaper labor. But shoes, computers, and cloth cost just as much as ever. It seems only the rich have benefited from this.
- tdb7893 9y agoIt's not everything but stuff like smart phones, jeans, and shoes would be much more expensive if they were manufactured in the US. For example sneakers already have high tariffs (high end shoes being taxed an extra about 12% and most other mass market shoes being taxed at around 35-48% from the data I found) but about 98% of shoes in the US are foreign made because even with the tariffs and shipping costs the US can't compete. The total labor cost per hour is often about 10x what it is in countries like Bangladesh so it seems pretty clear that especially for things where labor is a large part of the cost they are going to be much cheaper if manufactured outside the US.