I am a published economist.
Businesses will leave the USA regardless of any small government incured cost. There will always be a cheaper option. The race to the bottom is real.
What you are suggesting is that the only way for America to be competitive is to have wage levels like Bangladesh.
No sane American would want that.
The Amerian market is the most attractive and lucrative in the world.
Yes, businesses would be willing to incur a cost in order to access it.
Trump is right if you want to get out of the race to the bottom.
Bingo.
He obviously has no problem with a $365.7 billion trade deficit as long as he can get cheap Chinese crap on the supermarket.
Never mind the fact that China is using that money to build up their military. And who do you think they plan to use it against?
Respectfully, most economists don’t get the free market economy of Adam Smith and Milton Friedman, but have been steeped instead in the Keynesian school of government interference in the economy.
Wage and price controls, like socialism itself, ALWAYS end up in train wrecks.
If what you say is true, America shouldn’t have any business ventures - they all should have gone to Africa or something. Of course that’s ludicrous. Business will go where the business climate of low cost is is maximized which until recently was the U.S.
Yes, government-forced hikes in the costs of doing business, like minimum wage and suffocating dead-end regulations, do cause businesses to look elsewhere to maximize profits and keep costs down. That’s the job of business. They would be stupid to do otherwise. Government interference only makes matters worse.