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Not entirely true
Posted by Tim (more from Tim) on Fri, 9 Jul 2010 19:59:50
In Reply to: you're only rich if you're richer than someone else..., James, Fri, 9 Jul 2010 18:42:11
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For example, Americans don't have to get rich by making Canadians poor :-) Specialization is what makes people more productive . . . and that means trade makes people's lives better (or richer).
Outsourcing over the past two decades is very much the result of American military and financial dominance of the world. If businesses have to run the risks of dealing with foreign dictators on their own without any help from American military (paid for by American taxpayers), they'd be much more reluctant to ship jobs overseas. In other words, employers who keep jobs in America are forced by our government to subsidize their competitors who ship jobs overseas. Any wonder why businesses joined the crowd and shipped jobs overseas?
At the same time, foreign tinpot dictators recycling US$ into the US financial industry (like those oil sheiks) enabled financial industry job offers so far superior to any manufacturing/engineering jobs that the young college graduates flocked to the financial industry in droves. For example, over the past couple decades, few bright college students aspired to be engineers for GM, but they wanted to be MBA's and lawyers (even representing the unions pay better than engineering jobs).
posted by 71.184.95...
Posts in this Thread:
- Economy - double dip and investments?, pete , Thu, 8 Jul 2010 16:38:39
- Re: Economy - double dip and investments?, john Myers, Fri, 9 Jul 2010 23:00:39
- The economy is always cyclic. But what we have now, Noel, Fri, 9 Jul 2010 11:55:41
- Re: Economy - double dip and investments?, lowbar, Fri, 9 Jul 2010 08:30:14
- Re: Economy - double dip and investments?, No Snaab, Fri, 9 Jul 2010 08:06:13
- Re: Economy - double dip and investments?, Robert, Thu, 8 Jul 2010 17:35:09
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