Yes, the discussion is straying.I question the notion, offered as axiomatic, that the "hard won" living standard enjoyed by those born into industrialized nations is an entitlement - and suggest that those producing goods for export to say, the USA are hard winning they're own living standard. At some point (and we are seeing it with the beginning of inflation in China, and the export of outsourcing from India to more competitive locales), equalization occurs and the rich become competitive again.
The part of capitalism that seems to make the comfortable squirm is that we must continue to compete with the hungriest. Can we only hope that someday we can assure a reasonable living standard with decent opportunity for advancement of strivers in all parts of the world? More than a hundred years of industrialization, and there are still people living at subsistence levels. What's wrong with this picture? And what does the disparity cost the rich?
Henry L.Coleman wrote:
In a global economy any product or service of significant size is open to price competition. In the United states and Canada the cost of employing someone is many times higher than in the far east. We have to live in very expensive society so we need more to live. Proponents of the Global Economy keep saying that competition is good and raises the standard of living for people in poor industrialized countries but it is my contention that the rich countries get poorer at this expense. In other words, we in the west are endangering our hard won high standard of living to raise the level of far east countries which allow dumping of cheap goods on our doorstep and into our stores. For anyone going shopping in the USA or Canada today, check out how many things are actually produced in the home market. That being said, this is an Asterisk forum not an economic debate so I apologize for straying from the path.
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