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August 02, 2017

Comments

K.N McBride

I'm trying to figure out if you're actually endorsing Williamson's point of view. This phrase in particular seems to indicate you are:

"So of course the political class sold you out, because you think you're owed a job when in fact they owe you nothing."

I'm sure they FEEL they owe the people they are supposed to represent nothing, but as this November showed, the people disagree.

This attitude is exactly how we got Trump.

If the political class wants more Trump, they should keep right on doing what they're doing.

Nurglitch

Of course the collapse of American industry was inflicted by the political class; the political class in the US has always had a large overlap with the financial class, and when American goods and labour became more expensive than its competitors it withered because is was worth less.

Your working class demanded a lifestyle better than that of Chinese peasants, and this is what they get for that. Their greed for affordable, consumable goods meant that they weren't willing to buy the mass-market items that would have supported American manufacturers, and that cycle of a shrinking market for the products of labour likewise reduced the demand for that labour while increasing the demand for cheaper labour. And given the hassle of importing things from the other side of the world, it's almost incredible (except that, like all the other technological advances that reduce the demand for skilled labour, inexpensive and reliable shipping requires us to develop our comparative advantages in what's left for the demand on our labour).

The fact is that if you're selling your labour, it's not worth your effort, no matter how manly or dignified that effort may be, it's worth what you can produce in conjunction with the capital provided. To say otherwise is to uphold the Marxist Labour Theory of Value.

So-called 'Globalists' have had the time and education to be able to understand the economic concept of Comparative Advantage. The USA is simply not going to be able to compete with Chinese manufacturing in terms of cost-savings. But cost-savings is relatively worthless compared to value-added, and where American workers are adding value they're out-competing their Chinese counter-parts who work 12-hour days, and have the QA of anyone working those hours for survival rather than comfort. There's a great video out there of the Chinese Premier excoriating a panel of Chinese "captains of industry."

So of course the political class sold you out, because you think you're owed a job when in fact they owe you nothing. You get the price that you can sell your labour for, and if it's not competitive, then it's worthless to your political masters and likewise to you.

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