All these debates about jobs going overseas and the problems they produce, one thing has skipped most people: Why not increase Global Wealth? What if the world's per-capita GDP was the same as the American per capital GDP, how big would the market be for iPADs laptops, cars etc... ? How many people would be working in the United States. So far in the industrialized world farmers are paid subsidies to reduce their agricultural output all the while people are starving in Somalia. What if those Somalis were working making shoes or cloths or whatever and the farmers in America were increasing their output to feed them.
Adam Smith correctly noted that the total wealth of a country is the total work output of a country. And today we have a problem with the global output. People are underemployed all around the world and therefore there is a problem of global poverty and unemployment in the united states.
The real solution is through global policies to increase global output. moving from a 74 trillion global economy to a 345 trillion global economy. It is possible.
Adam Smith correctly noted that the total wealth of a country is the total work output of a country. And today we have a problem with the global output. People are underemployed all around the world and therefore there is a problem of global poverty and unemployment in the united states.
The real solution is through global policies to increase global output. moving from a 74 trillion global economy to a 345 trillion global economy. It is possible.