[RockyMtnMan]

I understand the law of comparative-advantage quite well, you just choose to ignore the need for consumers with strong buying power. Trade deficits are a good example of your "economic efficiency" statement. The value of goods acquired by China/India at a dramatically reduced rate do not translate into better value to the consumer.

Intellectual property is more valuable than the widget itself. The trade imbalance reflects this and would be higher if we counted the value of a "job".

[Texas_Dawg]

you just choose to ignore the need for consumers with strong buying power

I'm a supply-sider. So was Ronald Reagan. Sorry you're not. Supply-side economics work very well.