Yeah, I have a degree in economics and predicted the process you describe. It works for those who can afford to hire, and not for anyone in between. As it cycles the customer pool shrinks. As the customer pool shrinks, the product offered to those who can afford it increases in opulence. Hence Trump.
A corporation can move all of its operations overseas to take advantage of cheap labor and one day discover that Americans can no longer afford to buy their products because all the other corporations did the exact same thing.
Wholly Hayek! A grossly oversimplified model with catastrophic consequences!! Economists.
Allow me:
>>A corporation can move all of its operations overseas to take advantage of cheap labor and one day discover that Americans can no longer afford to... defend them and the conduct of their goods back to America.
>>Ever seen that “externality” in a free trade discussion?
Nope. You never will. The Free Trade Fanatics never consider the value of the nation in their economics. This is because everything is ceteris paribus for them. This is their way of ignoring the non-economic effects of their economic theories.
Trump is the only candidate who even tries to make you think that he will bring work back to America and make America a nation that “could” stand on its own (again) in the world if it had to. The rest preach the gospel of globalism.
Now, can he do it? I doubt it. But this is our last chance. If we don’t, we will become socialist by default.