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> Most all the income and productivity gains from globalization and go to the wealthy, so if they lost billions of dollars, it is true that the nation would be
by darksaints 5y ago
> Most all the income and productivity gains from globalization and go to the wealthy, so if they lost billions of dollars, it is true that the nation would be less “”wealthy””…
That's a popular trope, but not really supported by any evidence. Take, for example, sanctuary cities...which can be seen as a form of illicit globalization. The popular trope suggests that undereducated and low income native American citizens would lose by attracting large quantities of low cost labor. But the exact opposite is true: native blue collar employment and wealth increases, welfare dependence and poverty decreases.
Perhaps the purveyors of the popular narrative should read up on David Ricardo. It's been 200 years since he died, and people still haven't caught on that more trade is a universal good...something economists have nearly universally accepted for literal centuries now.