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I'm not sure why we need to assume that we'll ride the curve all the way down before coming back up. Its true that manufacturing jobs are going to poorer count
by roundsquare 17y ago
I'm not sure why we need to assume that we'll ride the curve all the way down before coming back up.
Its true that manufacturing jobs are going to poorer countries because wages are lowered there. For now, it seems like in richer countries the jobs are being (imperfectly) replaced by services. If this can't continue (and I'm not sure if it can or can't) than wouldn't we expect wages in (currently) richer countries to start dropping and manufacturing jobs to move back?
The above may sound like I'm assuming a frictionless economy and maybe some other pseudo-idealistic assumptions... but I don't think I am. I realize that the process will not be instantaneous, but that doesn't mean it won't happen (albeit with some pain along the way).
- antipaganda 17y agoAha! You, sir, have hit upon the greatest reason to be optimistic about globalisation; even though the evil soulless multinationals <warning, satire> are currently destroying good, well-paying jobs in developed nations and creating nasty, hellish, unsafe, penurrific jobs in the concrete slum-nightmares of the Third World, they have to move on to new concrete slum-nightmares every so often when the locals get too rich to endure slavery! The key fact is this: There are a limited number of slum-nightmares to move on to! One day, the t-shirt manufacturers will find that Darfur has become too well-heeled, and look around, and curse the skies, because there's nowhere left to exploit! And the world will be doomed to become more homogenous, more wealthy, and more high-standard-of-livingy every single day. Mwahahahaha!