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To be clear this article isn't whether globalization is good or bad but about how it affects "American workers". Its pretty clear it has been on average very go
by rb808 7y ago
To be clear this article isn't whether globalization is good or bad but about how it affects "American workers". Its pretty clear it has been on average very good for America and the world, but bad for say factory workers or coal miners. The response should have been to tax the wider benefits and subsidize the people who lost out, but that money got lost somewhere en-route...
Most of the world is far better off in nearly every measure than 20 years ago.
- ngold 7y agoIt's been fantastic for the 400 people that own more wealth then the entire country.
- deleted 7y ago[deleted]
- davidw 7y agoThat's a political choice we've made in the US, not an inevitable consequence of globalization.
- rb808 7y agoYes it has, that doesn't make it bad though. It has also been fantastic for 90% of the world's population.
- adventured 7y agoAn extreme exaggeration that ignores the extraordinary wealth holdings of the US middle class, which is wealthier than their peers in Germany or Sweden. That is despite heavy middle class demographic change from Latin America immigration the past ~45 years, they're still wealthier than those elite nations. The 50% to 90% bracket in the US for example holds $31-$35 trillion in household wealth. The 90% to 99% bracket holds another $39-$44 trillion. So 50-99% holds $80+ trillion. The Forbes 400 is worth $3 trillion.
- andrekandre 7y ago> The 50% to 90% bracket what percentage of the u.s population fits into that bracket?
- subject117 7y ago90%-50%=40%
- OpieCunningham 7y ago“that money got lost somewhere” It’s a mystery.
- Twixes 7y agoWonder where it could have ended up… The oceans, perhaps. We may never know.