re: Deindustrialization - Have We Become a Poor Country?

quote:

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if a Chinese worker is willing to work hard for $5 an hour, and a unionized US worker demands $80, what is the answer?

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Pay less and use the delta to create a better economy, which is exactly what the US has done (and has fricked China).

I will never understand this obsession with demanding redistributive government policies to devolve our economy to the point where lower-level manufacturing is viable here. There is not a magical economic reality where the US is subsidizing workers who are worth $5/hour AND we produce all the high end goods/tech that make us the best and most advanced economy in the world.