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> The markup on most products is such that US businesses could easily manufacture their products in the US at current minimum wages and still handily profit. W

> The markup on most products is such that US businesses could easily manufacture their products in the US at current minimum wages and still handily profit. What data are you basing this on? You're also ignoring the most important part - consumer choice. People buy cheap shit because it's cheaper. It's the foundation of Walmart. So let's say the companies here did manufacture here, but then a foreign competitor offers a significantly cheaper product - how do you reconcile that without going out of business?

didibus 7y ago
I think that's precisely the issue. Economists thought that driving an open market would push up wages as efficiencies come back around, thus both driving for cheaper goods and higher wages. But they didn't anticipate exactly the effect of globalism and the exodus to China happening so quick. Foreign industries could be taxed to some level relative to what their workers are paid and their working conditions to even out the domestic companies disadvantages maybe. That's already happening to some extent. I don't know if that or fixed minimum wage is the solution by the way. But I'm saying clearly that's the problem. Companies don't all start with an equal footing, and that can put out of balance the free economy. https://foreignpolicy.com/2019/10/22/economists-globalization-trade-paul-krugman-china/ https://foreignpolicy.com/2019/10/22/economists-globalizatio... Edit: Eh, I forgot that you can't really have rational discussions on slightly political topics. If you think something I said isn't logical or true, please partake in the conversation.
- UnFleshedOne 7y ago
  > both driving for cheaper goods and higher wages This actually works -- cheaper goods for developed countries and higher wages for China. On the balance this is a win economically. Environmentally it is the opposite -- better for developed countries and worse for manufacturing ones.
asdff 7y ago
If you were a small business you should be spending your time lobbying for tariffs against exploitative international manufacturers or even local subsidies instead of lobbying to pay your employees less out of your bucket of gold every year.

didibus 7y ago

I think that's precisely the issue. Economists thought that driving an open market would push up wages as efficiencies come back around, thus both driving for cheaper goods and higher wages. But they didn't anticipate exactly the effect of globalism and the exodus to China happening so quick. Foreign industries could be taxed to some level relative to what their workers are paid and their working conditions to even out the domestic companies disadvantages maybe. That's already happening to some extent. I don't know if that or fixed minimum wage is the solution by the way. But I'm saying clearly that's the problem. Companies don't all start with an equal footing, and that can put out of balance the free economy. https://foreignpolicy.com/2019/10/22/economists-globalization-trade-paul-krugman-china/ https://foreignpolicy.com/2019/10/22/economists-globalizatio... Edit: Eh, I forgot that you can't really have rational discussions on slightly political topics. If you think something I said isn't logical or true, please partake in the conversation.

UnFleshedOne 7y ago
> both driving for cheaper goods and higher wages This actually works -- cheaper goods for developed countries and higher wages for China. On the balance this is a win economically. Environmentally it is the opposite -- better for developed countries and worse for manufacturing ones.

asdff 7y ago

If you were a small business you should be spending your time lobbying for tariffs against exploitative international manufacturers or even local subsidies instead of lobbying to pay your employees less out of your bucket of gold every year.