Antonio Graceffo, PhD.
Manufacturing is crucial because it provides well-paying jobs for uneducated Americans and because we need an independent industrial base and supply chain. If we go to war with China, it is likely that they will refuse to sell us critical defense materials.
Free trade and free movement of labor causes Americans to lose their jobs and drives down wages. Americans displaced from the manufacturing sector move to other sectors where they increase the supply of labor and drive down wages.
An increase in the supply of labor shifts the supply curve to the right, decreasing wages. This shift can come from free migration of labor across borders or in specific sectors as they are forced to absorb displaced workers from other sectors.
Globalists would have you believe that the rules of supply and demand apply to coffee cups, T-shirts, widgets, and every commodity, except labor. They seem to believe that labor is magical. Even when the supply increases, wages remain the same. And the fact that an endless supply of people earning $2 an hour in their home country will do a job for $10 an hour in the U.S. does not impact wage growth. The basic laws of supply and demand, and decades of stagnant wages, say they are wrong.
#economics #wages #manufactuing #supplyanddemand #china
#economy #labor #supplyanddemand #globalism #Globalization
