For those of you who desire government centrally controlled economies

[Lost Student]

Originally Posted by ChinoCoug

google "stolper-samuelson theorem"

Okay, so in my limited understanding, this is saying that as long as someone here is more skilled than workers other countries, their wages will increase, while those with the same or less skill will decrease to be on par with the wages of the other countries.

Is my statement a correct application of the theorem? (Sincere question; my entire economics education consists of Kearl's Econ 110 class 5 years ago.)

edit: Page 5 pwnt

[Colly Wolly]

Originally Posted by BarbaraGordon

This is EXACTLY what I'm trying to say.



I'm aware of the argument.

I disagree. Ask a Wal-Mart employee where the obsession with cheap goods has gotten us. It's created a standard of non-living wages for a huge section of the American workforce. They can't even afford the "cheap" goods.

All the cheap goods market has done is enable the Chinese to buy a whole hell of a lot of oil, increasing costs for us across the board.

I pray to God our nation has the wisdom to stay the hell away from this line of thinking. It will only lead us downward.

[BarbaraGordon]

Originally Posted by Colly Wolly

I pray to God our nation has the wisdom to stay the hell away from this line of thinking. It will only lead us downward.

What, the part about the oil in China?

I thought that was a nice touch. <grin>

[Archaea]

Originally Posted by ChinoCoug

What if the market won't run at all?



never heard that b4, maybe you can give me examples.

You crack me up, read anything by Friedman (You already know this, you're just yanking my chain). WSJ has constant stuff on money supplies.

Friedman submit improper management by the Fed or its predecessor caused or at least worsened the Great Depression.

[ChinoCoug]

Originally Posted by BarbaraGordon

This is EXACTLY what I'm trying to say.



I'm aware of the argument.

I disagree. Ask a Wal-Mart employee where the obsession with cheap goods has gotten us. It's created a standard of non-living wages for a huge section of the American workforce. They can't even afford the "cheap" goods.

you mean like that little girl John Edwards was talking about?

Originally Posted by BarbaraGordon

All the cheap goods market has done is enable the Chinese to buy a whole hell of a lot of oil, increasing costs for us across the board.

Money is only worth what it can buy.
Money is only worth what it can buy.
Money is only worth what it can buy.

[Lost Student]

Originally Posted by Colly Wolly

I pray to God our nation has the wisdom to stay the hell away from this line of thinking. It will only lead us downward.

Yeah, I have to say that the problem with this line of reasoning is, why are they working at Walmart? What skills do they have that helps increase our production?

Man that sounds harsh saying it, but I do beleive that the country is overall better off by lower prices such as found at Walmart. Otherwise we're all just subsidizing someone who doesn't have the job skills to get a higher paying job.

Now if you ask my F.I.L, he will tell you that Walmart, and basically anything made in China, are the devil (spoken in Bobby Boucher's mothers' voice).

[Archaea]

Originally Posted by BarbaraGordon

This is EXACTLY what I'm trying to say.



I'm aware of the argument.

I disagree. Ask a Wal-Mart employee where the obsession with cheap goods has gotten us. It's created a standard of non-living wages for a huge section of the American workforce. They can't even afford the "cheap" goods.

All the cheap goods market has done is enable the Chinese to buy a whole hell of a lot of oil, increasing costs for us across the board.

That's nice rhetoric but it's not borne out by the data.

Right now, everybody in the US, except the bottom few who do not receive adequate education and skill development, is rising or at least staying the same in terms of standards of living.

[Colly Wolly]

Originally Posted by BarbaraGordon

What, the part about the oil in China?

I thought that was a nice touch. <grin>

The solution is to be at the forefront of alternative energy development....

[ChinoCoug]

Originally Posted by Archaea

You crack me up, read anything by Friedman (You already know this, you're just yanking my chain). WSJ has constant stuff on money supplies.

Friedman submit improper management by the Fed or its predecessor caused or at least worsened the Great Depression.

No, actually at BYU we just go over models and solve equilibriums like it's math class. We don't read. All I learned was that money supply is used to control inflation.

[BarbaraGordon]

Originally Posted by Archaea

Right now, everybody in the US except the bottom few who do not receive adequate education and skill development.

That's not even a sentence, Archaea. Everybody is what?

Anyway, I'm way out of my element and just fooling around. I really do have grave concerns about the impact of globalization on the lower half of the American workforce.

But I know nothing about economic theory and I was having some fun. (I thought the oil in China would be the giveaway there but I guess not.)