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A comment on Economists are now admitting that they were wrong about globalization.

Re:Economists are now admitting that they were wrong about g... by rb808 on Friday October 25, 2019 @03:09PM (#21358205)
To be clear this article isn't whether globalization is good or bad but about how it affects "American workers". Its pretty clear it has been on average very good for America and the world, but bad for say factory workers or coal miners. The response should have been to tax the wider benefits and subsidize the people who lost out, but that money got lost somewhere en-route...

Most of the world is far better off in nearly every measure than 20 years ago.

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Re:Economists are now admitting that they were wrong about g... by ngold on Friday October 25, 2019 @03:18PM (#21358297)
It's been fantastic for the 400 people that own more wealth then the entire country.
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Re:Economists are now admitting that they were wrong about g... by adventured on Friday October 25, 2019 @05:11PM (#21359291)
An extreme exaggeration that ignores the extraordinary wealth holdings of the US middle class, which is wealthier than their peers in Germany or Sweden. That is despite heavy middle class demographic change from Latin America immigration the past ~45 years, they're still wealthier than those elite nations.

The 50% to 90% bracket in the US for example holds $31-$35 trillion in household wealth. The 90% to 99% bracket holds another $39-$44 trillion. So 50-99% holds $80+ trillion.

The Forbes 400 is worth $3 trillion.

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Re:Economists are now admitting that they were wrong about g... by andrekandre on Friday October 25, 2019 @08:51PM (#21360755)
> The 50% to 90% bracket

what percentage of the u.s population fits into that bracket?

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Re:Economists are now admitting that they were wrong about g... by subject117 on Tuesday October 29, 2019 @02:22PM (#21390440)
90%-50%=40%
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Re:Economists are now admitting that they were wrong about g... by rb808 on Friday October 25, 2019 @05:51PM (#21359591)
Yes it has, that doesn't make it bad though. It has also been fantastic for 90% of the world's population.
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Re:Economists are now admitting that they were wrong about g... by davidw on Friday October 25, 2019 @04:06PM (#21358725)
That's a political choice we've made in the US, not an inevitable consequence of globalization.
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Re:Economists are now admitting that they were wrong about g... by OpieCunningham on Friday October 25, 2019 @03:29PM (#21358413)
“that money got lost somewhere”

It’s a mystery.

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Re:Economists are now admitting that they were wrong about g... by Twixes on Sunday October 27, 2019 @10:09PM (#21373735)
Wonder where it could have ended up… The oceans, perhaps. We may never know.
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