[A. Pole]

[...] Now, somewhere in the evolution of a finite healthy free enterprise market economy a close to optimum equilibrium of worker salaries develops, or should develop, vis-a-vis other groups. Anything that is destructive to that equilibrium is destructive to the economy in the entirety. A destructive action upon that equilibrium may have a sequential cascading effect that will eventually maul much of the entire economy over time. What that means is that exporting industries to nations where there is slave, semi-slave, or cheap labor is likely to produce recession or worse. Importing large amounts of cheap labor will result in the same thing. The consequences can be long term or permanent.

It doesn't make any difference if you get something cheaper as a result of destroying that equilibrium. Deterioration of the greater long term economy is the realistic result. That's the way the economy works. But, people selling economic theories that will create that deterioration will focus upon what you get cheap or for free. That's the way economic sophistry works.[...]

Briliant text from 2002 by Robert L. Kocher, to be read again and remembered.

[stylin19a]

Who is John Galt ?

[bvw]

Thanks for this fine essay! Long, but deep and insightful.

[Mortimer Snavely]

Bumping this thread.

[Lael]

BTTT!!