The Decline of the U.S. Machine-Tool Industry and Prospects for Recovery (1994)

Re:The Decline of the U.S. Machine-Tool Industry and Prospec... by WillPostForFood on Thursday April 10, 2025 @01:41PM (#43646302)

We actively pursue fiscal policy to promote inequitable wealth distribution

But you don't see free trade as a policy promoting inequitable wealth distribution? As designed, free trade is literally moving jobs overseas for lower wages. The primary benefit is higher profits for big companies, and the primary loser is middle to lower class that loses jobs. The best case argument is that the people who lose jobs, and end up underemployed, enjoy cheap imports.

[ Parent | on HN ]

Re:The Decline of the U.S. Machine-Tool Industry and Prospec... by SideQuark on Friday April 11, 2025 @09:31PM (#43660518)

The middle and lower classes have more jobs now in the US, at higher wages, than ever. Your argument simply fails in light of evidence.

You can check this via BLS, or Census, or on FRED.

And those lower class Americans are higher paid than a huge part of the planet. US poverty level is at the 85th percentile in global income.

[ Parent | on HN ]