DIYbanter - View Single Post - SOT- Feelin' Guilty about buying Chinese This n That...

On 15 Oct 2004 05:14:40 -0700, (Ray Kinzler)
wrote:

I posted this article before but it fits in better here. It is an
article about how economist Paul Samuelson has done an about face on
globalism and says it will cause grave problems in the country that is
pushing all its labor off-shore, specifically mentioning China.

This is the quote I especially like:

"Samuelson's insight is that if a low-wage country like China suddenly
makes a major productivity leap in an industry formerly led by the
United States, the result can be a net negative for the American
people. Although American consumers may benefit via low-low prices at
Wal-Mart, their gains may be more than outweighed by large losses
sustained by laid-off American workers."

Ultimately, in a global economy, most of the world must be just barely
above subsistence level. As countries such as China raise there
standard of living those on the US and Europe must drop to compensate.

The good news is that as the standard of living drops the value of our
time drops and it is less costly to spend many hours in the woodshop.
The bad news is that you will be doing it neander style. (some may
consider that good news as well)

Tim Douglass

http://www.DouglassClan.com