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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 c
by 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.