unfortunate that you're getting downvoted for explaining comparative advantage; none of these "we could face unfair competition from other countries" comments seem to understand this basic concept
Re:It’s Time to Repeal the Jones Act
by ghastmaster on Wednesday October 19, 2022 @03:12PM
(#33266599)
To be fair, I did tarnish the simple explanation with an opinion on why the lower classes are worse off. I knew the risk I was taking when I added that.
This basic idea scales up to the country level provided all the rules and regulations do not interfere. The problem with the shrinking status of the lower classes in the USA is not division of labor throughout the world. The imbalance of worldwide division of labor is primarily a symptom of disastrous monetary policy by the Federal Reserve bank and Congress and ill conceived regulations.