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To: Cringing Negativism Network

OK, but your policy will have a lot of negative effects on individual Americans so we should back up and cover some other economic insights. The most important for right now is understanding that it is the division of labor (labor specialization) is critical to wealth creation.

Here’s a video showing the division of labor in the manufacture of Wilson Footballs.

http://www.youtube.com/watch?v=PkCwsKGO-2o

It’s just over 5 minutes long. Ping me once you’ve watched it and we’ll discuss it.


41 posted on 06/07/2014 7:18:58 PM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

All great. That is a good video actually, thanks.

I just point out to you, that last year America imported from China 440 billion dollars worth of goods.

America only sold China 122 billion dollars worth.

Your video only shows a factory of Americans, making footballs which are used in America.

I don’t have any issue with that.

I have an issue with the massive imbalance in global trade we are currently experiencing with China.

We bought 318 billion dollars more from China, then we sold last year.

That is a huge problem for America.


42 posted on 06/07/2014 7:29:07 PM PDT by Cringing Negativism Network (http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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