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My hot take is that ~50 years of wage stagnation makes a country bitter. Especially when you see how well it correlates with international trade being liberali
by jumpman500 8y ago
My hot take is that ~50 years of wage stagnation makes a country bitter. Especially when you see how well it correlates with international trade being liberalized. The people have a reason to be pissed. I'm in favor of free trade, but no politician or economist has come up with a good plan to deal with how the wealth is currently being distributed. We need better ideas, because all normal politically feasible tools haven't seemed to work. Though I wouldn't say America has tried very hard at addressing it.
https://en.wikipedia.org/wiki/Real_wages https://en.wikipedia.org/wiki/Real_wages
- r00fus 8y agoYou know what, screw globalism. All it does is let capital flow where people can't so unless your capital purchasing power exceeds your future labor output, you're going to lose out to foreign labor. Hint: that's most of us.
- klipt 8y agoThat's why the EU enshrines freedom of movement for people as well as capital within its borders. But I doubt many Americans would support global freedom of movement...