Quote:
Originally Posted by partofme
GDP gains as in having a larger market to sell U.S. goods. More sales mean that much more added to GDP. Also buying goods cheaper than they can be produced in the U.S. is a plus for the consumer.
|
Unless your currency value decreases in relation to the producer country currency to where those goods become very expensive and your payment imbalance creates additional debt to service with no industrial base to manufacture them at a lower cost. Which is the scenario we're now going to face.
Quote:
|
I don't think I need to explain how furthering education allows for people to get better jobs than manufacturing jobs. People do not go to college expecting to get a job in factory unless it's a management job.
|
In most cases those jobs lost in the industrial sector didn't require any higher education. We're now experiencing the loss of professional jobs that do require higher education in all industries, including service industries, to developing countries who have greatly expanded and enhanced the quality of their educational systems. What do we retrain those people to do?