TO bring jobs back from China is going to take something more than lower wages for American Workers... Some protection of the domestic market is needed...
If there is an economic theory that shows how extremely low slave wages are sustainable for Western Consumer Capitalism...I'm all for it...
The notion of protection is as old as the trading economy itself...its ancient...!
Notions of Free Trade have always been political not economic... Its not really a valid economic theory in the long run...in its extreme it falls apart...just as extreme Keynesianism is doing now. But Keynes admitted that when he said "in the long run we are all dead"...
Valid economic theory demands some kind of equilibrium and sustainability...otherwise everything collapses... As we see now...!
When Free Trade was developed...it was all about maximizing the "natural advantages" of different nations...to produce things... You buy bananas from Columbia...not Canada...! Etc...
It was never about low or slave wages as happens in China and parts of Asia... The Era of greatest growth in the US was an Era of greatest protectionism...
People wrote editorials thanking Pres. McKinley for: "Protecting us from the pauper labor of Europe"...in 1900!! This, long before the Internet or this current incarnation of the so called "Global Economy"
This problem is not "new" or somehow related to technology or the Internet... Its carved on the walls of Egyptian Temples...!
If China wants to make TVs in the US...like Japan was "forced" to make cars in America in the 80's... Fine...
Solve the massive Trade Deficit with Asia...and Bring the Pentagon War Budget into the modern era.... Get Canadian/UK style Single Payer Health Care...and get health care in general off the backs of "job providers"....
AND EVERYTHING WILL IMPROVE...ALMOST AUTOMATICALLY... And that's an 'invisible hand' that is sustainable...!
