PROBLEM: In order to enjoy these advantages, nations need to reform their incompetent corrupt immoral power structures and join in a modern banking system that allows the free flow of capital.
Politicians like Chuckie Schumer who argue for restrictions and barriers in order to maintain their power over fearful workers simply need to shut up because they are part of the problem not the solution.
Politicians like Chuckie Schumer who argue for restrictions and barriers in order to maintain their power over fearful workers simply need to shut up because they are part of the problem not the solution.
This seems like it will only accelerate our downfall. If we relax our restrictions, it will be a total free-for-all for the corporations to get money out of the country and into developing ones. Here is the second paragraph you refered to when you assaulted westerfield:
Ricardo's wage theory has seemed untrue. The supply of competent workers in a given place is not unlimited; neither workers nor industry are perfectly mobile, and labor demonstrated in the 19th and 20th centuries that it could mobilize and defend itself. The iron law of wages would seem to function only if the supply of labor is infinite and totally mobile.
The issue is that the many high-tech industries, such as software development, are totally mobile, and they can go to places with decent educational systems and large numbers of people willing to work for significantly less for what people are payed here (India and China to name two). This fits the conditions for Ricardo's law to work.
By making it easier for capital to flow, it would appear as though it would flow entirely out of the country, and the problem is that this money is coming out of the pockets of the middle class, for it is they who are losing their jobs.