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> Until costs exploded, it worked. What costs are you talking of, specifically? Moving manufacturing to lower wage countries has actually reduced costs of goods
by pm90 8y ago
> Until costs exploded, it worked.
What costs are you talking of, specifically? Moving manufacturing to lower wage countries has actually reduced costs of goods quite a lot, and productivity gains throughout the world have consequently increased wealth.
The real problem seems to be income inequality; whereas right after WW2 inequality was low, it has recently exploded with the implementation of reckless tax cuts for the wealthy and cutting down on essential social security nets.
Its a shame really: the US has its problems, but the American middle class has generally been a source of prosperity and stability, and it seems to be rapidly fading away.