Comments on: Cox: Slicing global trade with a GE carving knife http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: SamuelReich http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19295 Mon, 13 Jun 2016 09:35:27 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19295 Free trade is used a slogan to defend all trade deals. But their negotiations are reported in the news usually as held up over protection of farm interests (farms in the US do not pay high wages hire migrant, gest, andillegalworkers) or intellectual property rights of firms who do not (have big payrolls of long term US citizens).
In short they are free trade and do not protect the bulk of US citizens.

There cannot be long term free trade bet ween areas without a single government. All government supported economic rules and conditions affect trade like wages levels supports, education, safety nets, health rules and supports etc. Vast differences in them or wages will result in mass job migration.

Adam Smith did not take effect of vast wage and government regulation into account. In the long term thwere will always be losers and winners in trade.

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By: BobWilliamson http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19294 Mon, 13 Jun 2016 04:30:48 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19294 I guess I’m wondering if costs of items such as those described would have increased as much as calculated in the article given increased efficiency due to computerization since the 1970s. Granted, this would have cost some jobs, but not via outsourcing to other countries.

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By: RichardSloan http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19293 Mon, 13 Jun 2016 03:16:27 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19293 There are values beyond the economic. Those who fail to see this cannot hope to fully understand anti-globalist sentiment.

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By: BlueGreen360 http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19292 Mon, 13 Jun 2016 03:02:25 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19292 Somehow in 1970 as I recall we were not deficit in the goods we needed to live. Trinkets now are cheaper, but back then our families were functioning better. Working class young men could get good jobs and could start families sooner. You can keep your cheap electric knife.

The lifespans in the white working class of America now are actually going DOWN. Put a cost estimate on that Rob Cox! Put a cost on the heroin epidemics in former mill towns. You ignore externalities, like most globalization cheerleaders.

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By: woland http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19291 Sun, 12 Jun 2016 23:17:56 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19291 All nice and dandy except not a word about what the wages of the middle class would have been had they kept the pace with increases in productivity. So suddenly that $350 tent wouldn’t be such a big deal. Keep talking.

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By: colson http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19290 Sun, 12 Jun 2016 19:29:52 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19290 So globalization is the necessary ingredient to neutralize monetary inflation? This is actually an argument against globalization as well as central bank monetary policy which concentrates power and increases inequities.

Here’s another point that you’re also missing: even with monetary inflation – goods and services will become cheaper as the technology necessary to produce them becomes more efficient and is further developed. It is not simply cheap labor in countries without labor unions, mandatory health benefits and little to no regulation – but also the fact that processes and technology improves over time resulting in a lower cost to produce and, thus, lower consumer prices.

Globalization is simply hidden theft and slavery. Countries are much more than markets and our leaders have been in thrall to forces which benefit greatly from concentrating wealth and power into the hands of fewer and fewer people, all while eliminating national sovereignty, borders, culture, native populations and any ability for people to resist or control their own futures.

Globalism’s time is over. Localism, sovereignty and sound-money are the future.

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By: genmist http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19288 Sun, 12 Jun 2016 16:26:48 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19288 People calling for manufacturing to be moved back to the US clearly know little of today’s production world. New manufacturing plants, other than maybe very small ones, use high tech robotics on assembly lines not people. Foxconn, the Chinese company that makes products for Apple and others, is replacing 60,000 production workers with robotics. For better or worse robotics has seriously begun to replace human workers in many areas. McDonalds has said if the minimum wage goes to $15.00/hr they would consider replacing kitchen workers with robotics. The long term cost would be less. AI in the near future will likely start to eliminate white collar jobs. Instead of yearning for a past that won’t return we need to learn how to adapt to the “new” world.

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By: BrunodeLande http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19284 Sun, 12 Jun 2016 12:54:39 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19284 For now your argument seems valid, but over time, when the labor costs in developing nations nations invariably rise, and inflation hits the U.S. accordingly, what then? Stagflation, a weaker Dollar, Stalled GDP growth, combined with the outsourcing of the millions of quality jobs over time………….not a winning strategy IMO.

However, your point is well taken, but the answer is, as always the middle ground. Tempered Globalization, with carefully considered localization.

Capiche?

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By: ToddNT http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19278 Sat, 11 Jun 2016 20:03:44 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19278 No mention of wage stagnation in this article, which is another “benefit” of globalization.

American workers’ productivity increased hugely over the time period referenced in the article, though their wages remained flat. In real terms, many families are much worse off now than they were in the 1970s.

Another fatal flaw in the argument is the failure to discern the difference between things that are needed and things that are not. That the American public can now be buried under an avalanche of cheap plastic from China is hardly the ideal of human progress.

So, here’s an article that purports to defend globalization and doesn’t mention wage stagnation, wealth and income inequality, and the decline in the standard of living for a huge swathe of working America. Never mind the use of globalization to defeat labor and environmental protections. With a defense like this, who needs enemies?

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By: JonKing http://blogs.reuters.com/breakingviews/2016/06/09/cox-slicing-global-trade-with-a-ge-carving-knife/comment-page-1/#comment-19269 Sat, 11 Jun 2016 11:13:11 +0000 http://blogs.reuters.com/breakingviews/?p=36726#comment-19269 The inflation numbers do not account for current manufacturing methods. Based on my 30 years in manufacturing that electric knife might be 29.99 today.

No one would expect the same workforce size given manufacturing automation but surely some jobs would be had. Americans might prefer less ‘stuff’ in their homes due to higher price while keeping jobs here? The manufacturing move overseas happened so quickly we hardly had the chance to find out.

Globalization entwines many countries economies and that prevents wars. That is a good thing.

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