Economists are driven by the people in power and money. They do as they are told. Nobody in power and money can be expected to vote in the best interests of those not in their camp, like gnome said earlier.
The rich and powerful have always been in on the "design" of things... plenty enough reason to aspire to become one of them. In a capitalistic economy there is "unequal distribution of the fruits"... in a socialistic economy, there is "equal distribution of the misery". (Government controllers excluded, of course.)
Was going to comment , but why when a little common sense and logic applied will answer all the problems. Ended up a comment.Just weak, Didn't want to close without saying something.
If you play through this theory with 2 products and three countries, you might be surprised, what the academics do understand but do not expound the problems of. The same holds true with the distribution of rewards between capital and labor as an effect of "productivity growth". Thats why its kind of antagonism to call such a society "civilized".
not much surprises me anymore. I'm not against trade, how could I be since it is what economics is all about- just how the discussion gets distorted. As German said, it's paradoxical how the US poor and middle class screw themselves by buying goods from China. The rich don't even want that crap, they buy Japanese electronics
That's true - people do buy a lot of stuff from China... But - how much stuff is really made with USA label on it any more? Is buying stuff from China the chicken or the egg? Also, I am often confused about complaints of buying "cheap goods from ____" when there is also the complaint that Americans don't save enough. If you want to save, don't you want to pay the least you can for the goods you buy so that you actually might have something left over to save? I'm confused...
I don't think so. Look at the bullshit they're buying: http://www.elitetrader.com/vb/showthread.php?s=&threadid=131728 That's how you contribute to the economy? By buying dirt cheap chinese bullshit? http://www.elitetrader.com/vb/showthread.php?threadid=113113&perpage=6&pagenumber=1
The choice is to: 1) pay the least amount to buy the most stuff, and ignore the loss of living-wage jobs that you and your kids could have had; OR 2) pay the amount it takes to make it here, to preserve the living-wage jobs that you and your kids could have. #1 leaves you with a bunch of broken stuff you can't fix, and no money to buy replacements. #2 leaves you with a healthy economy to fix what breaks or buy new, your choice. You cannot have both. Actually, #1 has already been chosen by the politicians, ignoring Americans' please to do otherwise.
Sounds nice but doesn't work in practice and certainly not in a world where the economy is global in nature. Open a basic economics book and you will soon understand why.
More important than economic spin is the treaty and globalism itself. I see you have not read it. I have. Go spend a few weeks in a nice, quiet place and read it, then come back to this issue. Until then, you're only spouting what you heard elsewhere. I know what this is about, and you don't. I defy you.