[jpsb]

But they worry about what happens if another country—say, Japan—can make everything, or almost everything, cheaper than we can.

Please answer the question, I read the article and did not see the question answered.

[jpsb]

If there were only one industry and occupation in which people could work, then free trade would indeed force American wages close to Japanese levels

So in each industry that we compete with cheap labor our wages are forced down huh? So what industries do not compete with cheap labor?

[CWOJackson]

Good article...and good luck.

[jpsb]

bump

[Willie Green]

But, in general, the protective system of our day is conservative, while the free trade system is destructive. It breaks up old nationalities and pushes the antagonism of the proletariat and the bourgeoisie to the extreme point. In a word, the free trade system hastens the social revolution. It is in this revolutionary sense alone, gentlemen, that I vote in favor of free trade.

~Karl Marx, "On the Question of Free Trade" - January 9, 1848

[The Duke]

The problem with "economists" is that they are not gods. And they seem to overlook political reality.

There is ***NO*** free trade on this planet. If you doubt me then try selling PC's in China! No, all there is are suckers and suckees ... and we Americans seem fated to be the eternal suckers.

[The Duke]

The ultimate loosers in all this, by the way, will be the bankers - when they find themselves reselling forclosed homes for pennies on the dollar. All else will adjust - lower wages will follow the lower prices for cheap sh&t.

[neutrino]

No doubt the leadership of China and India are delighted with this mindset. The children and grandchildren of Americans will pay a bitter price for our insatiable appetite for cheap junk from WalMart.

[dennisw]

More idiocy from the "trade deficits don't matter" while "free trade solves all problems" crowd. Don't believe a word he says. This year's 500 billion dollar trade deficit will be spent by foreigners on USA assets that throw off a profit, rent or interest.

On
US government bonds
US factories
US commercial and residential property
US farms
US raw land