Hi Jay. That is correct: “globalization will dilute our wages and standard of living while raising the world’s wages until there is an equilibrium global wage rate.” It is called “International Arbitrage” by economists. You can only maintain higher wages internally to the extent that you limit Free Trade by tariffs or non-tariff barriers. Otherwise the jobs go where the costs are lowest: America and Europe have seen that for decades now, and Trump was elected because he said he would bring those jobs back to America.

The conclusion you draw from this turns out not to be the case, though: “In other words if the people are making less then prices must fall for all goods and services.” Only manufacturing jobs making tradable commodities were affected, leaving the rest of the economy better off: earning the same but now buying a $5000 Flat-Screen TV for less than $1000. Recall the last decade: prices fell for anything imported but stayed the same for local goods and services. For the American working class it was a perfect storm: they lost their well-paid manufacturing job and ended up flipping burgers for the minimum wage, while food and rent did not fall to meet their new income. Added to the grief of being the working poor, they saw the architects of this brave new world, the Republican and Democrat ruling elites, did not care at all what was happening to them. Hillary Clinton rubbed their nose in the fact that they were worthless: racist, homophobic, misogynist deplorables. No wonder they voted for Trump: “He may a foul-mouthed horn-dog, but he’s on our side.”

Now for Unions: “I’m just saying it is one way for people to get more money in their pockets.” That works when the company cannot close its operations and move off-shore, which is exactly what companies do when the Union have management by the culioni (I assume that’s the same as Cujones?).

In a Globalised world Unions destroy their member’s livelihoods and jobs by “killing the Goose that lays the golden egg”.

Far better to have government legislate minimum wages and conditions nationally, so everyone is covered and no-one needs to join a Union.

I work in IT, Community volunteer interested in Politics, support Capitalism as the best economic system for lifting people out of poverty, Skeptical scientist.

I work in IT, Community volunteer interested in Politics, support Capitalism as the best economic system for lifting people out of poverty, Skeptical scientist.