Quote:
Originally Posted by SebC
And that's a good thing for American productivity. Not having to make their own t-shirts frees up their labour to do more banking, more invention, more R&D, etc.
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I agree but there is a very large population base of people who can't and won't be able to do those jobs for a variety of reasons. Lower and middle class individuals need to also have the ability to be able to work for fair wages and be able to provide for their families. There is a huge swath of America where things are very dire from a employment prospect standpoint.
American government and corporate policy dictated that more and more jobs would move overseas. This has benefited a lot of people but it has also left tens of millions of people and their families without a meaningful upward mobility.
I think I read a stat a while ago that indicated 150 million American's (60%) would not and can not fund a $400 emergency without borrowing. That is not even a decent smartphone or steakhouse dinner for the finance and tech people.