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> Absolutely false, the market more than anything in human society has driven more wealth, and higher standards of living. If it incredibly ignorant to say the
by nobodyandproud 4y ago
> Absolutely false, the market more than anything in human society has driven more wealth, and higher standards of living. If it incredibly ignorant to say the market is a "race the to bottom" backed by ZERO data or facts
A rational actor tries to maximize profits, and that involves either cost-cutting while minimally passing on cost savings; or disruption.
Disruption is what has driven wealth, but an unregulated market is terrible at encouraging risk taking.
The easier path is to make things cheaper (to
make), and the evidence is every off-shored manufacturing and industry over decades.
Now you’ll say that this cost increase is due to regulations; but the argument against that is even Chinese labor has become expensive and that’s simply due to a rising middle class. The market.
But like the US once had, they have the manufacturing knowledge and scale that we’ve foolishly given up a long time ago so US businesses can’t simply lift and shift.
To the point where I doubt our ability to wage a long-term war.