We are the world’s largest consumers because we have the largest economy. We used to be industrial superpower. We are still a technological superpower. US Dollar is the reserve currency of the world. It helps we can borrow indiscriminately to finance our consumption. Upto a degree our military might helps us get foreigners to finance this consumption. Not competing in the world market will accelerate our demise.
You are not paying “American prices” for lot of manufactured goods – clothing, shoes, consumer electronics, computers, some foodstuffs. Hint – these sectors have no unions. Most of the selling price of apparel goes to real estate costs for these malls, non-unionized retail worker(hourly wage – $8-10) and unionized port worker (some of whom make $100,000+ for operating forklifts). The third world worker makes squat.
A lot of expensive stuff for families has these items – taxes, healthcare, education, housing. They have a lot of unions and licensed people to pay for. A lot of Workers in these sectors are overpaid. No one is suggesting that these workers work for third world wages. But the current pay/benefit structure is unsustainable. Is it too hard to comprehend ?
