Re:Why 3.5M Americans in their prime years aren’t working
by cmurf on Saturday February 24, 2018 @06:44PM
(#16456185)
By all objective measures, free trade has helped more than it has hurt. And yes, that's poor consolation for the disproportionate injury for the minority: not least of which are those in the U.S. who were unable or unwilling to adapt to the ensuing market forces, but perhaps the proliferation of worker exploitation and slavery [1]
Those disproportionately benefiting, are those invested in the stock market, and work as top tier management of those companies. As defacto owners and operators, their company gets cheaper labor without honoring the labor rights of the home country, and have become wealthier because of this. Ironically, perhaps, the home country benefits from this as well via tax collection.
The idea that that reverting to prior trade paradigms will be more fair is just stupid. Regression will be worse because it will deprive so many more people of what wealth they do have. It would destabilizing economically, and politically. Bilateral trade is as dead long term as petroleum. A silly president, who transparently favors bilateral trade either because he lacks the mental acuity to understand multilateral trade, or he's malevolent and wants to take advantage of others without being held accountable (his long standing business m.o. is split between the two), should have no say. And in practice the senate, American business, foreign leaders and businesses, nod and smile just so he doesn't poop his diaper again. Not because bilateral trade has a realistic chance.
Instead of taking an unserious person's advice, we need to double down on mutilateral trade combined with strong competition, anti-fraud, and ethics. And a lot of rational constructive arguing. The more who benefit, the wealthier and safer we all are. I win you lose is Trump's idea of winning strategy, and everyone knows it. His followers love the bully mentality, they think it works, and his detractors see it for what it is: shitty behavior you expect from shitty people best avoided as much as possible.
[1] A Crime So Monstrous: Face-to-Face with Modern-Day Slavery Ben Skinner
Those disproportionately benefiting, are those invested in the stock market, and work as top tier management of those companies. As defacto owners and operators, their company gets cheaper labor without honoring the labor rights of the home country, and have become wealthier because of this. Ironically, perhaps, the home country benefits from this as well via tax collection.
The idea that that reverting to prior trade paradigms will be more fair is just stupid. Regression will be worse because it will deprive so many more people of what wealth they do have. It would destabilizing economically, and politically. Bilateral trade is as dead long term as petroleum. A silly president, who transparently favors bilateral trade either because he lacks the mental acuity to understand multilateral trade, or he's malevolent and wants to take advantage of others without being held accountable (his long standing business m.o. is split between the two), should have no say. And in practice the senate, American business, foreign leaders and businesses, nod and smile just so he doesn't poop his diaper again. Not because bilateral trade has a realistic chance.
Instead of taking an unserious person's advice, we need to double down on mutilateral trade combined with strong competition, anti-fraud, and ethics. And a lot of rational constructive arguing. The more who benefit, the wealthier and safer we all are. I win you lose is Trump's idea of winning strategy, and everyone knows it. His followers love the bully mentality, they think it works, and his detractors see it for what it is: shitty behavior you expect from shitty people best avoided as much as possible.
[1] A Crime So Monstrous: Face-to-Face with Modern-Day Slavery Ben Skinner