General Discussion
In reply to the discussion: This, my friends, is far too typical for my generation. [View all]Laelth
(32,017 posts)And I concede that "free" trade has done a lot to make the United States poorer, but I don't think it's either the only or the primary cause of our current economic woes. Consider this: If Elizabeth Warren is right, and if 1962 wages had kept up with inflation and increases in productivity, then a burger-flipping job in 2013 would pay $22.00/hr. ($44K/year). Someone with a High School diploma would start at a wage scale above minimum wage (more than $44K/year), and people with college degrees would start at about $30.00/hr. ($60K/year). Of course, people with experience would get paid more.
I could live quite nicely with those kinds of wages ... just like the Boomers did when they were younger. We just don't live in that world any more, and I'm not sure "free trade" is the cause of that loss of income. On the other hand, as we see the wealth of the 1% grow astronomically, it becomes clear what happened to the fruits of our increased labor. The rich just took it, and they did so by suppressing wages and crippling organized labor. To me, it's that simple.
Thanks for the thoughtful response.
-Laelth