As long as China is the dominant manufacturer in the world...
Workers wages are in a race to the bottom... The decline of wages is really the story of the last 20 years... It started with Raygun and the Air Traffic Controllers...
And ended in the recent mass exodus of manufacturing jobs and factories to China...
Some economic genius needs to "run the numbers" on what happens if low wages are the new paradigm for the global economy...and give the world a NEW LOW WAGE MODEL for the economy that is sustainable... If I see that the new model 'works'...I'm all for it...cut wages more...!
If it only allows capital to loot more...temporarily...then leads to another collapse...? Not so much...
The notion that ONLY public sector unionized workers get "living wages and benefits"...is not sustainable...as we see...
The riots in the UK...and the unrest in Wisconsin are related to the decline of the middle class in the west... WE ARE AT A TIPPING POINT...so this needs to be explained soon.
