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bad news, club
Quote:
Originally posted by Spanky
Wow. It has been a while since I have met someone that actually buys this psuedoeconomic B.S. coming from the the unions. It is like listening to the Christian Coalitions statements on evolution and believing that.
"First the bulk of the benefits to to shareholders". What about lower prices in america that benefit everyone. Especially the poor. The consumer is by far the biggest beneficiary. As someone who has lived in seven countries I can tell you that money goes a great deal farther in the US than anywhere. In Japan you have to make three times the amount of money you make here to have the same standard of living. Yet, on average American workers make more money. More money and products are cheaper.
As far as foreign wages depressing US wages. That is comparing apples and oranges. You need to look at productivity of the workers and looking at the comparable pay for comparable productivity. In addition, if free trade repressed domestic wages how do you explain Hong Kong and Singapore. Singapore has the highest paid workers in Asia. In 1960 they were a third world nation and now they are a first world nation. And according to almost any published ranking, Singapore has the freest economy in the world. So why doesn't the phillipine workers right next store making a dollar a day depress Singapores wages.
Opening markets has never reduced the number of living wages. NAFTA increased wages in this country.
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Can we agree that free trade, in the aggregate, benefits the country, but that a subset of people suffer?
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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