Re:“The more reliant we are on others, the less resilient we...
by coldtea on Sunday December 18, 2022 @10:35AM
(#34038622)
>As with all slogans, it ignores important details that contradict it. Over the past four decades, our current global economic system, promoting economic integration and interdependence between countries, has lifted billions out of poverty.[a][b] Billions.
In other countries doing the providing. It didn't do as well for the ones doing the dependency ones - except in transfering welth and competence outside, and to a small minority people on the inside getting mega-rich from this outsourcing, and a quite larger but still small minority of people benefitting from related jobs.
Hence the "hollowing out of the middle class in the US", with the majority of the middle class and working class getting the short end of the stick, and a much smaller part of it and the upper middle class improving their lot.
(And the overall impact of this process softened or hidden entirely for a good while through cheap money published and going around as credit and QE)
In other countries doing the providing. It didn't do as well for the ones doing the dependency ones - except in transfering welth and competence outside, and to a small minority people on the inside getting mega-rich from this outsourcing, and a quite larger but still small minority of people benefitting from related jobs.
Hence the "hollowing out of the middle class in the US", with the majority of the middle class and working class getting the short end of the stick, and a much smaller part of it and the upper middle class improving their lot.
(And the overall impact of this process softened or hidden entirely for a good while through cheap money published and going around as credit and QE)