Nobel Economist Michael Spence - Offshoring has Destroyed the US Economy
abovetopsecret.com
Nobel Economist Michael Spence is saying that only jobs in government, education and health care and the like have grown in the USA while tradeable jobs that produce tangible goods and services have been exported leading to a lack of jobs in manufacturing and the like, which has caused wages to flat-line.
The article also points out that Michael Spence is saying that high value jobs which are being exported overseas (for instance manufacturing) are being replaced with low value jobs (for instance a job in McDonalds) and acknowledges that the change in the structure of American employment from higher productivity to lower productivity jobs is the reason both for the flat-lining in US consumer income and for the rising inequality of income.
Sending jobs abroad raised the earnings of capital but has led to lost jobs in manufacturing being replaced by jobs which pay much less in the service sector such as supermarkets and fast food restaurants, thereby causing the rich to get much richer and everyone else to compete for the fewer and fewer remaining high value jobs.
It is interesting to see a Nobel Economist effectively stating (using the language of an economist) what everyone else is seeing with their own eyes.
Globalisation and the offshoring of jobs does have winners and losers in the USA. The super rich win. Everyone else loses...MORE...LINK
FOR LIBERTARIAN NATIONALISM: ANTI-CORPORATIST, ANTI-COMMUNIST, ANTI-GLOBALIST...PRO-SOVEREIGNTY, PRO-POPULIST, PRO-FREE ENTERPRISE
My Other Blog & Comments
News and Information Feed
-
Profiles in Countermoonbattery: Eva Vlaardingerbroek22 minutes ago
-
-
-
Bragg has no legal authority to do this: Andy McCarthy31 minutes ago
-
-
AXT, Inc. (AXTI) Q1 2024 Earnings Call Transcript34 minutes ago
-
Hostile Takeover: How NATO Annexed Macedonia35 minutes ago
-
-
Book Burning Goes Digital57 minutes ago
-
-
-
German military plant ablaze1 hour ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Russia Puts Zelensky on Wanted List2 hours ago
-
Shameless propagandists, liars, and hoaxers2 hours ago
-
-
-
Jasmine Crockett2 hours ago
-
-
-
News Briefs – 05/04/20243 hours ago
-
GOVERNMENT & MEDIA RIDICULE3 hours ago
-
-
-
-
-
Evil vs. Good4 hours ago
-
-
-
-
-
-
-
-
-
-
-
Rehabilitating Syngman Rhee10 hours ago
-
20 Books You Need To Read10 hours ago
-
America’s Jenga Tower of Power10 hours ago
-
Gates of Vienna News Feed 5/3/202411 hours ago
-
-
-
-
-
Battle of Kursk13 hours ago
-
-
‘The great replacement’? Hell yes13 hours ago
-
Why Does the US Gov. Borrow Money?13 hours ago
-
-
-
-
-
-
-
-
-
-
-
Weekend Parting Shot: Queer Farming16 hours ago
-
-
SCOTT GREER AT THE CASTLE: "Why Trump Must Win"17 hours ago
-
-
They’re not dumb they’re evil18 hours ago
-
-
-
-
-
-
The excommunication of Biden20 hours ago
-
-
Friday, May 3, 202420 hours ago
-
-
-
Voltaire, International Newsletter N°8521 hours ago
-
May 3 - ZOG Bans Criticism of Its Genocide22 hours ago
-
-
-
-
Zero GOP1 day ago
-
-
-
-
-
-
-
-
-
-
-
-
This is honestly insane.1 day ago
-
-
-
-
-
-
-
-
-
-
-
-
-
TikTok Hypocrisy4 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Tulsi Gabbard Left The Woke War Party3 weeks ago
-
-
-
Help Whatfinger Grow…5 weeks ago
-
-
-
Navigating Taxation Policy1 month ago
-
-
-
-
-
-
-
So sorry about tomorrow3 months ago
-
-
-
TFeed Index 20233 months ago
-
-
-
-
Headline 3: Of Christmas And Paganism5 months ago
-
Imagine Being This Desperate5 months ago
-
-
Hardcore7 months ago
-
Media Say ... Gloom And Doom In China7 months ago
-
-
U.S. Openly Militarizes Space8 months ago
-
-
-
-
-
-
Conversations With Cabbies10 months ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Tips1 year ago
-
-
-
-
-
-
Man, Bear, Pig Event Coming1 year ago
-
-
-
-
-
-
-
-
-
What a Wonderful Stocking Stuffer!2 years ago
-
test2 years ago
-
-
-
-
-
#273 – Marc Randolph2 years ago
-
My Farewell Announcement2 years ago
-
My Farewell Announcement2 years ago
-
-
-
-
-
-
-
-
-
-
Farewell, for now3 years ago
-
-
Audio Book Lost Colony of Hatteras3 years ago
-
-
Cancel Yourself3 years ago
-
-
Hello world!3 years ago
-
-
-
-
-
-
The Non-Jewish Origins of Krav Maga3 years ago
-
-
-
Why the Marines are dumping their tanks4 years ago
-
-
-
-
-
-
-
Voxiversity Live Stream6 years ago
-
-
Home: A Recap6 years ago
-
Big Brother’s War on Cash6 years ago
-
-
-
-
By: Osamas Pajamas9 years ago
-
Join Our Mailing List12 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Friday, May 11, 2012
Nobel Economist's research confirms globalisation is a jobs-plundering mega-scam serving the mega-rich and their political sock puppets
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment