Wolfwood wrote:
America just need to get back to producing. We're not good for anything now-a-days. We're all service, but when it comes to actually making and selling things, it all goes to overseas.
Let's get rid of the minimum wage, OSHA and all environmental standards? Sounds like a great idea to me. What's occuring is a case of global labor arbitrage. It's not like we don't receive any benefit from it; we most certainly do, in what amounts to lower prices for products we purchase every day. Whether that's worth higher unemployment and a higher trade deficit is another matter entirely.
Personally - and I admit I have not done near as much study on the topic as I would like - I think the U.S. needs to stop being the world's glutton and stop consuming so much more than it produces. We're trading away massive amounts of U.S. dollars by doing so, which effectively means we're trading away America's asset one 32" TV at a time.
One of the world's wealthiest men has actually written about this many times in the past. You may be interested in reading his
thoughts; he is a much more intelligent man than I am.
