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Those things that are highly local have been dominating middle class budgets because foreign stuff like clothes has gotten so cheap. That's a good thing -- if
by bryanlarsen 2y ago
Those things that are highly local have been dominating middle class budgets because foreign stuff like clothes has gotten so cheap. That's a good thing -- if you spend less money on some things you have more money for others. If you make the foreign stuff expensive, the local stuff will less dominate budgets as they destroy those budgets.
- ty6853 2y agoAnd labor shifts from activities where we have comparative advantage (highly skilled labor) to things where we have less comparative advantage (low skilled labor). So now you have a lower skill low pay job and paying more than before. I cannot make sense of it other than as a few others posted here that Trump is preparing for war and wants to soften the blow of the interruption to international trade by making sure we are more prepared for isolation.
- h2zizzle 2y agoLower skill doesn't necessarily need to be low pay. It's a policy decision. Ultimately, you're determining the unit value of labor vis a vis other labor. Maybe trash people and burger-flippers working late nights and early mornings SHOULD earn more than paper-pushers - even if the latter are really really good at [technical skill]. We've certainly made that choice wrt MBAs vs PhDs.