Gone with the Globalization, that is the US Middle Class

[joec]

One thing with globalization is that labor costs in capitalism is a race to the bottom for companies. Translated here, it becomes tough for a lot of middle class or even upper class folks to keep doing what they were doing to make a living if they lose their job. There’s enough articles on folks taking lower pay and staying there afterwards.

We can all close our eyes and cover our ears and say do something that can’t be moved or isn’t needed, but you’re bound to leave some folks behind and that’s happening now.

Not that anyone should be “entitled” to anything or given anything at all (hey, the world is a mean place), but not every 50 year old or 40 year old can re-invent themselves every 5 years on a whim. It’s just not that simple with kids, family…mortgages, college funds, health care, etc and that’s why you have all these articles about the middle class.

In China, this is even happening now. (This is the first article I googled on it, but there are more) and they are moving factories to inland areas (and some US companies are actually coming back here).

http://english.peopledaily.com.cn/90001/90778/90860/7035121.html

[briansd1]

[quote=joec] you’re bound to leave some folks behind and that’s happening now.
[/quote]

That’s what change is all about. There will be winners and losers. So long as there are more winners, we’re better off.

The nobility could argue that they’ve been left behind because of representative democracy.

Economic change is happening at a faster pace now whereas, before, change occurred maybe once in a lifetime or not at all.

You can think of the interstate highway system of the mid-century as creating freedom of movement and “globalization” within America and Canada.

Now, jet travel, fiber optics, satellites, the Internet and container ships are creating freedom of movement worldwide. Unfortunately, so far, globalization is benefiting most those people who can easily obtain visas to cross national borders.

As Americans, we are lucky. Any American, even one who is broke and unemployed, can get a visa to travel anywhere in the world. Most countries don’t even require travel visas for Americans.

[briansd1]

[quote=joec] you’re bound to leave some folks behind and that’s happening now.
[/quote]

That’s what change is all about. There will be winners and losers. So long as there are more winners, we’re better off.

The nobility could argue that they’ve been left behind because of representative democracy.

Economic change is happening at a faster pace now whereas, before, change occurred maybe once in a lifetime or not at all.

You can think of the interstate highway system of the mid-century as creating freedom of movement and “globalization” within America and Canada.

Now, jet travel, fiber optics, satellites, the Internet and container ships are creating freedom of movement worldwide. Unfortunately, so far, globalization is benefiting most those people who can easily obtain visas to cross national borders.

As Americans, we are lucky. Any American, even one who is broke and unemployed, can get a visa to travel anywhere in the world. Most countries don’t even require travel visas for Americans.

[briansd1]

[quote=joec] you’re bound to leave some folks behind and that’s happening now.
[/quote]

That’s what change is all about. There will be winners and losers. So long as there are more winners, we’re better off.

The nobility could argue that they’ve been left behind because of representative democracy.

Economic change is happening at a faster pace now whereas, before, change occurred maybe once in a lifetime or not at all.

You can think of the interstate highway system of the mid-century as creating freedom of movement and “globalization” within America and Canada.

Now, jet travel, fiber optics, satellites, the Internet and container ships are creating freedom of movement worldwide. Unfortunately, so far, globalization is benefiting most those people who can easily obtain visas to cross national borders.

As Americans, we are lucky. Any American, even one who is broke and unemployed, can get a visa to travel anywhere in the world. Most countries don’t even require travel visas for Americans.

[briansd1]

[quote=joec] you’re bound to leave some folks behind and that’s happening now.
[/quote]

That’s what change is all about. There will be winners and losers. So long as there are more winners, we’re better off.

The nobility could argue that they’ve been left behind because of representative democracy.

Economic change is happening at a faster pace now whereas, before, change occurred maybe once in a lifetime or not at all.

You can think of the interstate highway system of the mid-century as creating freedom of movement and “globalization” within America and Canada.

Now, jet travel, fiber optics, satellites, the Internet and container ships are creating freedom of movement worldwide. Unfortunately, so far, globalization is benefiting most those people who can easily obtain visas to cross national borders.

As Americans, we are lucky. Any American, even one who is broke and unemployed, can get a visa to travel anywhere in the world. Most countries don’t even require travel visas for Americans.

[briansd1]

[quote=joec] you’re bound to leave some folks behind and that’s happening now.
[/quote]

That’s what change is all about. There will be winners and losers. So long as there are more winners, we’re better off.

The nobility could argue that they’ve been left behind because of representative democracy.

Economic change is happening at a faster pace now whereas, before, change occurred maybe once in a lifetime or not at all.

You can think of the interstate highway system of the mid-century as creating freedom of movement and “globalization” within America and Canada.

Now, jet travel, fiber optics, satellites, the Internet and container ships are creating freedom of movement worldwide. Unfortunately, so far, globalization is benefiting most those people who can easily obtain visas to cross national borders.

As Americans, we are lucky. Any American, even one who is broke and unemployed, can get a visa to travel anywhere in the world. Most countries don’t even require travel visas for Americans.

[CA renter]

[quote=dbapig][quote=briansd1]This is the per-capita GPD chart.

The problem is not lack of wealth creation because of globalization.

The problem is income distribution.

The math does not lie.

http://www.indexmundi.com/g/g.aspx?c=us&v=67
http://www.indexmundi.com/united_states/gdp_per_capita_%28ppp%29.html%5B/quote%5D

So my unscientific assumptions of result of Globalization.

-Rich/corporations benefit as they outsource to produce essentially same thing (may not be of same quality etc) for less cost. They sell stuff at same price. One benefit of the Globalization.
-Even the rich/corporations that do not produce things in China can demand and get lower/stagnant wage for the workforce in America, citing the risk of losing jobs to China. Another benefit of Globalization.
-The ‘regular’ folks get the benefit of paying not much for stuff, aka Wal Mart effect. But I never heard of a company lowering price for products they were able to produce for less in China. The difference was pocketed by corporations. Not a great benefit of Globalization…[/quote]

Totally agree with this, dbapig. Good post.

[CA renter]

[quote=dbapig][quote=briansd1]This is the per-capita GPD chart.

The problem is not lack of wealth creation because of globalization.

The problem is income distribution.

The math does not lie.

http://www.indexmundi.com/g/g.aspx?c=us&v=67
http://www.indexmundi.com/united_states/gdp_per_capita_%28ppp%29.html%5B/quote%5D

So my unscientific assumptions of result of Globalization.

-Rich/corporations benefit as they outsource to produce essentially same thing (may not be of same quality etc) for less cost. They sell stuff at same price. One benefit of the Globalization.
-Even the rich/corporations that do not produce things in China can demand and get lower/stagnant wage for the workforce in America, citing the risk of losing jobs to China. Another benefit of Globalization.
-The ‘regular’ folks get the benefit of paying not much for stuff, aka Wal Mart effect. But I never heard of a company lowering price for products they were able to produce for less in China. The difference was pocketed by corporations. Not a great benefit of Globalization…[/quote]

Totally agree with this, dbapig. Good post.

[CA renter]

[quote=dbapig][quote=briansd1]This is the per-capita GPD chart.

The problem is not lack of wealth creation because of globalization.

The problem is income distribution.

The math does not lie.

http://www.indexmundi.com/g/g.aspx?c=us&v=67
http://www.indexmundi.com/united_states/gdp_per_capita_%28ppp%29.html%5B/quote%5D

So my unscientific assumptions of result of Globalization.

-Rich/corporations benefit as they outsource to produce essentially same thing (may not be of same quality etc) for less cost. They sell stuff at same price. One benefit of the Globalization.
-Even the rich/corporations that do not produce things in China can demand and get lower/stagnant wage for the workforce in America, citing the risk of losing jobs to China. Another benefit of Globalization.
-The ‘regular’ folks get the benefit of paying not much for stuff, aka Wal Mart effect. But I never heard of a company lowering price for products they were able to produce for less in China. The difference was pocketed by corporations. Not a great benefit of Globalization…[/quote]

Totally agree with this, dbapig. Good post.

[CA renter]

[quote=dbapig][quote=briansd1]This is the per-capita GPD chart.

The problem is not lack of wealth creation because of globalization.

The problem is income distribution.

The math does not lie.

http://www.indexmundi.com/g/g.aspx?c=us&v=67
http://www.indexmundi.com/united_states/gdp_per_capita_%28ppp%29.html%5B/quote%5D

So my unscientific assumptions of result of Globalization.

-Rich/corporations benefit as they outsource to produce essentially same thing (may not be of same quality etc) for less cost. They sell stuff at same price. One benefit of the Globalization.
-Even the rich/corporations that do not produce things in China can demand and get lower/stagnant wage for the workforce in America, citing the risk of losing jobs to China. Another benefit of Globalization.
-The ‘regular’ folks get the benefit of paying not much for stuff, aka Wal Mart effect. But I never heard of a company lowering price for products they were able to produce for less in China. The difference was pocketed by corporations. Not a great benefit of Globalization…[/quote]

Totally agree with this, dbapig. Good post.

[CA renter]

[quote=dbapig][quote=briansd1]This is the per-capita GPD chart.

The problem is not lack of wealth creation because of globalization.

The problem is income distribution.

The math does not lie.

http://www.indexmundi.com/g/g.aspx?c=us&v=67
http://www.indexmundi.com/united_states/gdp_per_capita_%28ppp%29.html%5B/quote%5D

So my unscientific assumptions of result of Globalization.

-Rich/corporations benefit as they outsource to produce essentially same thing (may not be of same quality etc) for less cost. They sell stuff at same price. One benefit of the Globalization.
-Even the rich/corporations that do not produce things in China can demand and get lower/stagnant wage for the workforce in America, citing the risk of losing jobs to China. Another benefit of Globalization.
-The ‘regular’ folks get the benefit of paying not much for stuff, aka Wal Mart effect. But I never heard of a company lowering price for products they were able to produce for less in China. The difference was pocketed by corporations. Not a great benefit of Globalization…[/quote]

Totally agree with this, dbapig. Good post.

[Author]

Posts