Posted by ascintor on August 30, 2011
"In a prosperous country such as the United States, a fallacy that sounds very plausible is that American goods cannot compete with goods produced by low-wage workers in poorer countries, some of whom are paid a fraction of what American workers receive. But, plausible as this may sound, both history and economics refute it."
Sowell, Thomas (2010-11-16). Basic Economics: A Common Sense Guide to the Economy, 4th Edition (Kindle Locations 8617-8619). Basic Books. Kindle Edition.
Shall we discuss this (cont.)?
It's one of the most ongoing and divisive issues preoccupying today's international dialogue...