Its the economy... stupid

[Oldstyle]

As for the rest of that post? What is your issue with capital accumulation? Do you not understand that the pursuit of profit is what induces investment of capital and that without the potential for profit...you will not get investment...and you won't get job creation? I know this is a toughie for liberals to wrap their heads around, Tehon but profit is NOT a bad thing!

I understand that capital accumulation led to the hollowing out of American industry. I understand that it has forced American workers to compete with the undeveloped world for jobs. And led to the financialization of our economy. It might not be a bad thing to drive the capitalist mode of production for a period, in the long run it is self defeating.

How did capital accumulation lead to the "hollowing out" of American industry? You keep trotting out these vague terms to describe the evils of capitalism. Globalization has forced American workers to compete with others for jobs. It's now economically viable to produce goods at one end of the earth and sell them at the other end of the earth. That isn't going to change. For some reason liberals see raising minimum wage in the US as a solution to a lack of good paying jobs. Why they think that's going to make a bad situation better I really don't know. It's literally forcing businesses here in the United States to either replace humans with robots or open up plants overseas.

 

[Tehon]

How did capital accumulation lead to the "hollowing out" of American industry?

It bought out our government which in turn created the conditions for industry to leave.

 

[Oldstyle]

How did capital accumulation lead to the "hollowing out" of American industry?

It bought out our government which in turn created the conditions for industry to leave.

That's what I love about liberals, Tehon! You call for mandated higher wages and higher taxes...then blame business leaders for leaving! You want things like the Paris Climate Accord but then don't want to accept responsibility for increased energy costs preventing American businesses from being able to compete with their competition because the deal was so badly negotiated for us!

 

[Tehon]

You call for mandated higher wages and higher taxes

Not me bud. You can't find a single post here of me calling for those things. I am not in favor of government redistribution of wealth.

 

[Tehon]

How did capital accumulation lead to the "hollowing out" of American industry?

It bought out our government which in turn created the conditions for industry to leave.

That's what I love about liberals, Tehon! You call for mandated higher wages and higher taxes...then blame business leaders for leaving! You want things like the Paris Climate Accord but then don't want to accept responsibility for increased energy costs preventing American businesses from being able to compete with their competition because the deal was so badly negotiated for us!

Besides, it's a bs argument anyway. Business benefited greatly from opening up the labor pool. Both home and abroad. Taxes were just an excuse that could be used to gain backing from the republicans.