To: Busted Keyboard
Free Trade would be more like "we give Australia access to our markets without government interference." In turn Australia does the same to us.
Under that arrangement we are free to compete head on, without crutches or barriers.
To: Joe Hadenuf
bump
To: maui_hawaii
Right.
However, the majority of labor is a commodity whose relative cost is primarily determined by the local housing costs, the government-imposed taxation and regulatory burden, and the exchange rate. America cannot compete labor-for-labor with most Third World countries because all three of these make America far more expensive.
And those who believe so-called productivity will save this country's jobs are deluding themselves. Any productivity-enhancing plant or equipment can be equally well used in Pittsburgh or Shenzen.
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