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Why shouldn't the work go to the one who will do it the cheapest? The are billions of people around the world living in poverty, destitution, and with no opport
by zippy5 6y ago
Why shouldn't the work go to the one who will do it the cheapest? The are billions of people around the world living in poverty, destitution, and with no opportunity. Globalization has been equalizing labor compensation around the globe, which means that Americans as whole have been averaging down but a great many below the global poverty line have been averaging up.
If Americans laborers want to maintain their economic disparity, there are two paths.
One is protectionism. The biggest benefit of maintaining this ”trade war” is not that we will get a better deal, it's that it add enough uncertainty to global labor arbitrage that loss aversion make US workers appear the ”safe bet”.
The other path is higher productivity. In order to pay Americans orders of magnitude more than workers in other countries, they need produce orders of magnitude more. This means, better training and better machines. It's not an accident that computers and networks have both been the dominant machines of the past couple decades and working to create and use them has been accompanied higher compensation.