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Re:Crises of Elite Competition in the East and West by eru on Wednesday December 01, 2021 @06:55AM (#29402883)
Your logic would suggest that workers in tradable industries get paid less than those in non-tradeable goods and services, wouldn't it?

That's something we can look into.

Re:Crises of Elite Competition in the East and West by wahern on Wednesday December 01, 2021 @03:39PM (#29408858)
> Your logic would suggest that workers in tradable industries get paid less than those in non-tradeable goods and services, wouldn't it?

Not necessarily, as the laborers displaced by off-shoring are now competing in the labor pool for many other non-tradeable industries. That's what I meant when I said, "suppressing wages in industries with low costs of entry--remaining manufacturing but especially non-professional services." An increase in supply relative to demand usually will mean a lower clearing price (i.e. more people for fewer jobs usually means lower accepted wages).