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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: profile_14 who wrote (130155)4/7/2010 11:04:54 AM
From: Archie Meeties2 Recommendations  Read Replies (2) of 206161
 
I agree that if you're unlucky enough to have been employed by a textile manufacturer in the 70's or an electronics manufacturer in the 80's or a rigbuilder in the 90's that it would certainly seem as if our standard of living is going down while countries with cheap labor are rising.

Conversely, if you had been employed since the 70's by microsoft, csco, boeing, genentech, cargill, the film industry, etc., you'd find that the spread of capitalism and the expansion of markets has been extremely beneficial.

I'll maintain that an expanding global economy is a net positive for the US and that a higher standard of living for Chindia benefits us. 400million more people attempting to move from an agricultural economy to a manufacturing and then service based economy over the next decade. This is one reason why I think this economy is going to surprise to the upside over the next few years. Our economy continues to have enough flexibility and innovation to remain competitive in the globailization process. Unions are a hindrence to this competitiveness as they prefer the status quo. Europe, which arguably has as much raw basic scientific research as the US, lacks this competitiveness because it's hobbled by labor and other impediments to rapid economic change.

So you're a pub and believe unions have valid concerns and I'm a dem and think unions need to face economic reality. Did we just fall down the rabbit hole?
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