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Re: An Historical North/South Antebellum 'What If'
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Originally Posted by danielpalos
It is my contention that lower (or free) wages are less conducive to improving our standard of living through mutually beneficial trade.
Here is anecdotal evidence of that line of reasoning.
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I agree, but then there are few financiers and businessmen who ever practiced that line of reasoning in their businesses, either in the past or the present. They like Red China's labor costs and a totalitarian police state to keep their labor cheap.
Even today neither Party will raise the Federal minimum wage to where it really should be adjusted for inflation, and most wages in general are running about half of what they were in 1973, before the oil shocks and the global food shortage hit.
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