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Also, what seems to be missing from the comments is the questioning of labor conditions. What about working conditions in some of these countries the U.S. trad
by 0x445442 9y ago
Also, what seems to be missing from the comments is the questioning of labor conditions.
What about working conditions in some of these countries the U.S. trades with? Is it all cool so long as we benefit from cheap labor?
Furthermore, there's an imbalance between capital and labor in terms of arbitrage opportunities. Capital can easily take advantage of labor arbitrage but labor is not mobile and thus, cannot take advantage of cost of living arbitrage.
I get the sense that most folks that support minimum wage increases don't really think much about the labor conditions of those making most of the stuff they consume.