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The American middle class didn't get wrecked though. People had more capital on hand due to cheaper goods that they were able to spend on other industries and s
by throwaway6734 5y ago
The American middle class didn't get wrecked though. People had more capital on hand due to cheaper goods that they were able to spend on other industries and services.
If manufacturing didn't go to China it would've went to Vietnam or another country with cheaper low skilled labor. Long term automation will eat those jobs anyways
- jjoonathan 5y agoOh? The American middle class didn't get wrecked? I'm sure all the opiate addicts on disability roll will love to hear about all the capital they have on hand due to cheaper goods.
- throwaway6734 5y agoMany actions could have been taken to prevent people from struggling to adapt to a changing economy such as: * Subsidies for relocation * Subsidies for retraining * Subsidies for drug rehabilitation All of which could have been funded by the greater economic growth generated by trade. If you want Americans to pay more for goods to subsidize the cost of living of groups of Americans, make it a transparent tax. Don't hide the cost in greater coats for goods. Also where was this concern when these same issues were hitting poor urban regions throughout the 80s and 90s?